4 déc. 2003 - WTO: U.S. Trade Rules on Imported Steel Illegal

Description:

Question 3c.
In 2003 December, the WTO ruled against heavy import duties on steel imposed by the Bush Administration, saying they violate global rules. U.S. president Bush repeals the tariffs to avoid a trade war with the EU. A trade war with the EU would be damaging to the U.S. economy and lead to a backlash from car manufacturers, domestic steelworkers, and labor unions. Also, by repealing the tariffs, U.S. avoided the $2.2 billion sanctions that would be imposed by the EU. WTO's Dispute Settlement Mechanism (DSM) can deter noncompliance and it has subsequent punishment strategies if the noncompliance actors do not cooperate.

Ajouté au bande de temps:

Date: