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November 25, 2003 Tuesday Ramazan 29, 1424





WTO adopts steel ruling on Dec 1


GENEVA, Nov 24: The WTO will adopt a ruling against US steel tariffs on December 1, a spokesperson said on Monday, enabling the EU to slap billions of dollars in sanction on US goods five days later unless Washington complies with the decision.

The ruling, which found US tariffs on selected steel imports flouted international rules and should be amended, would be adopted on the same day the World Trade Organization’s dispute settlement body meets.

“The European Union asked for it to be on the same day,” the WTO spokesperson said.

A spokesperson for the European Union said this was in accordance with the wishes of the eight-member states that launched a complaint to the WTO last year against Washington’s tariffs of up to 30 per cent on steel imports. In June 2002, the 15-nation bloc warned it would automatically slap tariffs worth $2.2 billion on a range of US imports five days after the formal adoption of the WTO decision, namely December 6.—AFP






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