US braces for trade backlash
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WASHINGTON - The World Trade Organization is set to give the go-ahead today for sweeping retaliation against the United States from Canada, Europe and others for its continuing refusal to dismantle illegal trading laws.
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According to US Trade Representative Susan Schwab, the US is now considering taking action with the WTO over existing and proposed European tariffs on LCDs, set top boxes, and MFDs.
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The Bush administration said it  would work with Congress to avoid U.S. exports being hit with  potentially hundreds of millions of dollars in new sanctions  approved on Tuesday by the World Trade Organization.
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The United States sees potentially escalating trade friction with China next year as Beijing is stepping up restrictions on foreign investment and recent U.S. Congressional elections create uncertainty, a U.S. trade official said on Friday.
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The United States said on Tuesday it may soon take legal action in a trade row over government help for Airbus and Boeing, particularly as the European aircraft maker was seeking support for a new project.
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The country is split over a possible permanent trade deal with the US.
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The World Trade Organization imposed penalties yesterday on exports ranging from apples to textiles, escalating a trade dispute the Bush administration has tried to defuse by unsuccessfully urging Congress to repeal legislation aimed at protecting US steel makers.
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Trade tensions flared between the United States and China on Friday, as each brought disputes against the other at the World Trade Organisation (WTO).
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The dogfight between Europe and the United States over subsidies to airplane builders Airbus and Boeing is already potentially the largest trade dispute in history and looks set to get nastier.
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The simmering debate between Airbus and Boeing over subsidies is likely to intensify as negotiators from the United States and European Union, under pressure from the US president, prepare
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The European Union and its allies got the go ahead on Tuesday to slap potentially heavy sanctions on U.S. goods in a row that could stir trade tensions ahead of the U.S. elections.
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The United States sees potentially  escalating trade friction with China next year as Beijing is  stepping up restrictions on foreign investment and recent U.S.  Congressional elections create uncertainty, a U.S. trade  official said on Friday.
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The World Trade Organisation gives the EU and seven countries the chance to impose sanctions in retaliation for a US anti-dumping law.
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Sanctions could be aimed at a wide range of American exports, possibly including steel ball bearings, cod, shoes and apples. Most would be imposed by Japan and the EU, which have been the hardest
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BRUSSELS The World Trade Organization is expected to approve on Friday the imposition of trade sanctions worth $150 million on the United States by the European Union, Japan, Canada and others after a legal issue was resolved Thursday.
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The European Union, Japan and others will be able to impose heavy sanctions against US firms dumping goods from early next year.
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The United States, the European   Union and Canada are expected to ask the World Trade   Organization on Friday to decide whether China is restricting   imports of foreign auto parts in violation of international   rules, U.S. and EU officials said on Thursday.