Ruling on EU-US tax dispute expected soon

The European Commission has said a World Trade Organisation ruling on the tax dispute between the European Union and the United…

The European Commission has said a World Trade Organisation ruling on the tax dispute between the European Union and the United States is rumoured to be due out by the end of the week.

But a commission offical said: "We're simply in a position where, frankly, we just don't know. We'll believe it when we see it," a commission official said.

A WTO panel was due to decide by late July on the value of compensation that the EU should receive for US export tax breaks.

In January, the WTO upheld an earlier ruling that the measures violate global trading rules. The WTO's appellate body ruled in favor of the EU, which had complained that US tax breaks undermine European industry.

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