EU suspends sanctions on US exports after Bush signs bill ending subsidies Matt Lubniewski at 12:47 PM ET
In the wake of President Bush's signing of a tax reform bill last week, the EU announced today that it would suspend sanctions on US imports. In January 2003, the WTO ruled that US subsidies to exporters were illegal. The EU responded by imposing import tariffs on certain US goods. The tax reform bill signed by President Bush last week ends these illegal export subsidies. "Legally speaking we will suspend the sanctions and we will keep our options open," said EU trade commissioner Pascal Lamy.
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