US backpedals in tax row with EU

The US has been making conciliatory noises to the European Union in their dispute over a US scheme that enables companies to …

The US has been making conciliatory noises to the European Union in their dispute over a US scheme that enables companies to avoid taxes on export income. The moves followed a World Trade Organisation ruling that it violated multilateral trade rules. Ms Charlene Barshefsky, US trade representative, said Washington strongly disagreed with the ruling, but it respected its WTO obligations and did not want this to jeopardise ties with the EU.