The WTO appellate board ruled against the US in an export tax break dispute with the EU, the European Commission said today.
The World Trade Organization's board ruled in favor of the European Union in a case involving tax breaks for US exporters, saying the US practice was incompatible with WTO rules, the Commission said.
"The EU today welcomed the (WTO's) confirmation that the Foreign Sales Corporation (FSC) Replacement Act, brought in by the US in response to condemnation of its original FSC export subsidy system, is also incompatible with WTO rules," the commission said in a statement.
AFP