WASHINGTON, D.C., November 17, 2000 -- American Farm Bureau Federation President Bob Stallman has expressed regret that European officials today released a list of American exports to Europe that are targeted for possible retaliation in the Foreign Sales Corporation (FSC) trade dispute.
Legislation was finalized in the U.S. this week to revise tax laws that provided off-shore taxation rebates on certain exports that the WTO ruled were an illegal export subsidy. A ruling to determine whether recent changes to U.S. tax law comply with WTO rules is expected within the next 90 days. "It is unfortunate that Europe is taking steps that prejudge the United States' compliance on the FSC case," Stallman said. "Our administration and Congress have worked very hard to come into compliance with the World Trade Organization's FSC ruling. The same cannot be said of Europe on the beef and banana cases. Clearly, the release of this list is an attempt by Europe to deflect their own inability to live up to WTO rulings."
Today's request by the EU seeks WTO approval to authorize up to$4 billion in trade sanctions. The list released by the European Commission itemized 46 categories of products, of which half are food and agricultural items. Those include such things as livestock, meat and dairy products, fruit, vegetables, nuts, sugar, fish, wool, cotton, furs, hides, skins, wood, paper and other pulp products.
Stallman said, "Targeting U.S. agriculture to bear the brunt of Europe's revenge is an outrage. The United States has been an open trading partner with Europe when it comes to agricultural trade.
"However, our exports to Europe are consistently restricted due to allegations that lack scientific merit and a series of unfair trade practices. Now, Europe is positioning itself to further restrain U.S. agricultural exports to its market.":
