by Roger Russell The failure of the House and Senate to pass legislation repealing the current export breaks for U.S. manufacturers in the tax code have resulted in the imposition of World Trade Organization sanctions on a variety of American goods.
Effective March 1, European Union members have imposed tariffs of 5 percent on over 1,600 U.S. products, including grain, timber, paper and manufactured goods. The tariffs will increase by 1 percent a month up to 17 percent, or until Congress acts to eliminate what the European Union calls “illegal export subsidies.”
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access