Today the European Union announced it is relaunching efforts to impose sanctions on theUnited States over the 1916 anti-dumping act, which the World Trade Organization has found isinconsistent with U.S. trade obligations. Sen. Chuck Grassley, chairman of the Committee onFinance, in May introduced legislation, S. 1155, to repeal the 1916 anti-dumping act. Grassley madethe following comment on today’s announcement.
“It’s important for the United States to comply with its WTO obligations. That’s why Iintroduced this bill, and that’s why I’m committed to addressing the Foreign SalesCorporation/Extraterritorial Income problem with legislation well before trade sanctions kick inagainst the United States. I want other countries to comply with WTO rulings when the United States wins, so I think it’s critical that the United States complies when we lose. This bill wouldbring the United States into compliance with its WTO obligations. I’m looking for the best way tomove S. 1155 as soon as possible."
Source: Ranking Member’s News
