US House passes repeal of tax law at centre of WTO sanctions case
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WASHINGTON : The US House of Representatives repealed a controversial tax break for US corporations in a bid to end hefty European Union trade sanctions more than a year after the World Trade Organization ruled against the practice.
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The World Trade Organization gave final approval on Friday to the European Union, Japan and others to hit the United States with an initial $150 million in trade sanctions
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The W.T.O. decided today to authorize sanctions against the United States in response to illegal antidumping rules.
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European Union has decided to lift, at least temporarily, sanctions imposed on U.S. goods since Congress enacted sweeping changes in corporate tax law earlier this month.
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The U.S. House of Representatives on Wednesday defied the White House and voted to ease limits on U.S. student travel and trade with Cuba, but defeated a measure that would have lifted all economic sanctions.
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The European Union, Japan and Canada won permission from the World Trade Organization to levy tariffs on US goods to retaliate for a law that has given American companies $750 million in customs imposed on foreign competitors.
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The World Trade Organization yesterday authorized the European Union and seven other leading US trading partners to impose more than $150 million worth of sanctions against the United States for failing to repeal antidumping rules deemed illegal by the WTO.
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Stiff sanctions on US exports ranging from almonds to ski jackets intended to punish Washington for failing to repeal the so-called Byrd amendment were approved by the World Trade Organisation today.
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The EU called off its sanctions on $4 billion worth of US goods on Monday after Washington repealed illegal export tax subsidies, bringing some balm to transatlantic ties wounded by a battle over Airbus and Boeing.
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WASHINGTON (CBS.MW) -- House and Senate lawmakers reached a deal Wednesday on a massive corporate tax bill that would repeal a portion of the tax code that has spurred mounting retaliatory sanctions by the European Union.
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The European Union said today that it was removing $4 billion in trade sanctions on American products after the United States repealed what the Europeans considered an illegal
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The World Trade Organization granted authorization Friday to the European Union, Japan, Canada, Korea, Mexico, India, and Chile, to slap retaliatory sanctions if the US fails to repeal the Byrd amendment.
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The US House of representatives on Thursday passed a new corporate tax bill designed to end the trade war with Europe but the bill gives more tax cuts for some business including farmers and big companies.
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A major rewrite of corporate tax law that would end a trade dispute with Europe won congressional negotiators&#39; backing yesterday after House Republicans beat back efforts to increase tobacco regulation.
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The European Union will lift sanctions against the United States now that US President George W. Bush has signed a law reforming corporate tax breaks deemed illegal by the World Trade Organisation, the EU executive commission said.
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The House last night passed a sweeping rewrite of corporate tax law, a measure designed to end a trade war with Europe and shower $136 billion in new tax breaks on businesses, farmers, and other groups.
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U.S. Senate and House of Representatives negotiators agreed on Wednesday on a huge corporate tax bill that will repeal export subsidies that violate global trade rules and give manufacturers a new tax break.