EU TARIFF SANCTIONS ON U.S. EXPORTS “ARE NOT IMMINENT”

EU TARIFF SANCTIONS ON U.S. EXPORTS “ARE NOT IMMINENT”

EU TARIFF SANCTIONS ON U.S. EXPORTS “ARE NOT IMMINENT”

   The imposition of 100-percent retaliatory import tariffs on exports from the United States by the European Union, under the latest transatlantic trade dispute, will not be implemented immediately, a U.S. law firm said.
   “Actual imposition of the increased duties against U.S. exports does not appear to be imminent, since the EU has stated that it will delay retaliation while the U.S. works to fix the law in question,” Sandler, Travis & Rosenberg said in a letter to its clients.
   The dispute follows a ruling by the World Trade Organization that the U.S. law on Foreign Sales Corporations contravenes international trade rules. The World Trade Organization authorized a duty retaliation by the European Union.
   The European Commission has recently published a list of targetted products that could be subject to 100-percent tariff countermeasures. The Brussels body is currently requesting comments on the final content of the retaliation list, which ultimately can include $4 billion worth of U.S. exports. The list includes agricultural products, textile and apparel products, footwear, glassware, jewelry, electronics, toys and leather goods.
   “However, it also is unlikely that Congress will take action on that issue until at least early next year, and it is not clear how long the EU will be patient,” Sandler, Travis & Rosenberg said.