WTO plans to launch tariffs against USA

http://www.boycott-riaa.com/article/10676

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Originally Posted by boycott-riaa.com

According to AP Economics Writer, Martin Crutsinger, the U.S. is to be hit with trade sanctions approved by the World Trade Organization because Congress is fighting over a $5 billion restructure of corporate tax breaks.

Starting Monday, everything from roller skates to steel will have a 5% penalty tariff assessed to them. An extra 1% point will be added for each month over the next year unless Congress acts.

EU Trade Commissioner Pascal Lamy claims that the tariffs are being imposed reluctantly and would be lifted as soon as Congress passes a WTO-compatible tax law dealing with U.S. corporations.

"We have been extremely patient," said Lamy, "but there is no way we can avoid these sanctions which will hopefully concentrate minds on the urgency of passing legislation."

"We regret that they are moving forward," said Richard Mills, spokesman for U.S. Trade Representative Robert Zoellick.

The fight is over exporter tax breaks. The WTO ruled them illegal in 2000. Currenty the cost of the breaks is estimated at $5 billion annually.

Many in Congress want substitute tax breaks for manufacturers, especially in light of the 3 million factory jobs that our country has lost in the past 3 1/2 years.

Full story can be found at http://kevxml2adsl.verizon.net/_1_WW...&feed=ap&top=1.

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AHEM. Who the hell do the WTO think they are telling our leaders what to do and practically invading the USA's sovereignty? :mad: Screw 'em. Trade disputes should be bilateral between two nations, rather than having some meddlesome globalist fatcat body involved.

I could have sworn this was in response to illegal American sanctions and tariffs. Just saying...

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Originally Posted by gameoverDude

http://www.boycott-riaa.com/article/10676


AHEM. Who the hell do the WTO think they are telling our leaders what to do and practically invading the USA's sovereignty? :mad: Screw 'em. Trade disputes should be bilateral between two nations, rather than having some meddlesome globalist fatcat body involved.

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I hear we tell this to other countries all the time.

This has nothing to do with American sovereignty and everything to do with America trying to extort from the world community. If you want to be a part of the global market, you have to GIVE as well as take.

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Originally Posted by Brisco Bold

I could have sworn this was in response to illegal American sanctions and tariffs. Just saying...

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this sums up the situation:

"The so-called Foreign Sales Corporation law, allows U.S. companies to benefit from tax breaks worth $5 billion a year. The World Trade Organization ruled in November that the law was illegal and gave the EU's executive body, the European Commission, the option of imposing 100 percent duties on U.S. goods ranging from furs and toys to textiles and meat. Based on the full $4 billion, the main sector to be hit would be U.S. jewelry, at an estimated $1.43 billion."

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Originally Posted by gameoverDude

AHEM. Who the hell do the WTO think they are telling our leaders what to do and practically invading the USA's sovereignty? :mad: Screw 'em. Trade disputes should be bilateral between two nations, rather than having some meddlesome globalist fatcat body involved.

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Well, you see, in individual bilateral trade negotiations, the US is about as kind and honest as your average mafia boss.

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Originally Posted by gameoverDude

http://www.boycott-riaa.com/article/10676


AHEM. Who the hell do the WTO think they are telling our leaders what to do and practically invading the USA's sovereignty? :mad: Screw 'em. Trade disputes should be bilateral between two nations, rather than having some meddlesome globalist fatcat body involved.

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Maybe they think they're George Bush sticking their head nicely where it doesn't fucking belong? How's it feel on the other side of the fence?

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Originally Posted by Gibbits

Maybe they think they're George Bush sticking their head nicely where it doesn't fucking belong? How's it feel on the other side of the fence?

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Got that. The EU has their rights to impose tariffs as does any country. However, no nation should require WTO approval for any trade activities.

A bad thing (very bad) about WTO is their goal of "harmonization" of each nation's laws to a global standard. Harmonization's bad facets would outweigh any potential good ones when said standards get grossly restrictive. Imagine ISPs and users in Europe facing RIAA-style hassles with the IFPI thanks to the EU Copyright Directive (WIPO, which begat DMCA).

The WTO even wants to restrict nutritional supplements with Codex Alimentarius- they try to say it's for public safety, but in fact a lot of RDAs for nutrients are too low for optimal benefit. All the RDAs do is just prevent "deficiencies". Alliance for Natural Health is fighting against that situation.

Global trade should be strictly self-regulated. If more than a few nations voice disapproval or levy tariffs against another who is being unfair, that should suffice. GATT, WTO, and NAFTA are not necessary.

Heh, if that were the case, the US would be screwed. You have no idea how much of the WTO's ruling went to the US's favour.

Things like the US meat tax, and not allowing others to impose tariffs on American goods.