EU could hit back at U.S. over steel 'within three months' -- WSJ<\/p>\n
Agence France-Presse
\nBrussels<\/p>\n
The European Union could start \"within three months\" to
\nretaliate against U.S. tariffs on steel imports, the Wall Street
\nJournal reported Wednesday.<\/p>\n
In its European edition, the U.S. financial newspaper said the
\nEU's retaliatory measures -- worth 341.1 million euros (US$300
\nmillion) -- would mainly focus on U.S. steel exports to Europe.<\/p>\n
EU Trade Commission Pascal Lamy had previously said that he
\nwas considering sanctions worth $2.1 billion, but not before a
\nyear has passed to allow the World Trade Organization (WTO) to
\nreview the dispute.<\/p>\n
\"By moving up the date, the EU wants to apply some pressure on
\nWashington before November congressional elections\" and to create
\na global alliance of nations opposed to the U.S. tariffs, the
\nJournal said.<\/p>\n
More sanctions could follow in the second half of 2002, after
\nan expected WTO ruling on the legality of the Bush
\nadministration's decision to slap tariffs of up to 30 percent on
\nmost steel imports.<\/p>\n
Washington says the tariffs are necessary to protect the
\nailing U.S. steel industry and jobs, but the Europeans say the
\nunilateral action -- which exempts Canada and Mexico -- breaks
\ninternational trade laws.<\/p>\n
In Brussels, a European official told AFP that a list of U.S.
\nproducts that could be targeted by EU retaliatory measures was
\nstill being drawn up.<\/p>\n
\"One of the possibilities includes a smaller list that could
\nbe implemented before the middle of June,\" the official said.<\/p>\n
Last month Lamy gave the 15 EU member states a list of U.S.
\nproducts -- reportedly ranging from orange juice to Harley-
\nDavidson motorcycles -- that could be singled out for retaliatory
\ntariffs.<\/p>\n
But some nations, notably Britain and Germany, are understood
\nto have expressed reservations about the list, which observers
\nbelieve was designed to target politically sensitive parts of the
\nUnited States.<\/p>",
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"sponsor": "Okusi Associates",
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