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Launches Fresh Case At WTO Against U.S. The European Commission said on Friday it was launching a fresh case against the United States at the World Trade Organization, adding to disputes over GM foods, steel and export credits for U.S. exporters.
But this is of limited use with export credits because the victim is neither the importer nor the exporter, but a third country whose exports are artificially suppressed.
Trade continues, but governments have pruned export credits.
In the West, export credits were seen as good business.
Public and private insurers of export credits have a scant appetite for sub-Saharan Africa.
The two governments said they would begin talks on limits to export credits.
The resources can take the form of grants or concessional credits (e.g., export credits).
The European Union (EU) does not normally let member governments insure short-term export credits to developed countries anyway.
That country would accomplish nothing by raising tariffs.The world would be better off without subsidised export credits.
The United States also agreed to limit the use of its export credits, which have amounted to an export subsidy.
Britain has already announced that for the next two years, our export credits to HIPCs will be confined to supporting productive expenditures only.
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