EU Welcomes Repeal of U.S. Tax Breaks to US Exporters

The European Union has warmly welcomed yesterday's repeal by the U.S. Congress of WTO-incompatible tax breaks for U.S. companies contained in the American Jobs Creation Act of 2004. The EU welcomes the constructive work of the U.S. Trade Representative's office and Chairman Bill Thomas and Chairman Charles Grassley in removing the measures from US law.

EU Trade Commissioner Peter Mandelson said: "I welcome the constructive line taken by the U.S., in particular by USTR Rob Portman and USTR-designate Susan Schwab and by Chairman Thomas and Chairman Grassley. This decision also creates a positive atmosphere for the EU-US Summit in June."

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