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Markets in Europe

机译:欧洲市场

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There has been good and bad news with respect to the handling of subsidies - or non-subsidies - from the EU. US Steel, implacable opponent of subsidies when speaking as a US domestic producer, had been accused of accepting too generous a deal from the Slovak government when it took over the Kosice steelworks. As part of the conditions for Slovakia's entry to the EU the European Commission (EC) required strict limits to be placed on steel output at Kosice and on the foreign investor tax credit available to the new parent company until 2009. After amicable three-way negotiations in March a total tax credit was agreed at 500m US dollars and tax bills for Kosice set for this year and next. The EC ratified the deal at the end of September. Getting the US government to agree a definition of inherited subsidies consistent with World Trade Organisation (WTO) rules is proving more difficult. The USA has justified protecting domestic steelmakers by loading countervailing duties on a selection of EU steel imports on the grounds that were supplied by mills that in their state-owned past had received subsidies or cheap loans.
机译:欧盟在处理补贴(或非补贴)方面有好有坏消息。美国钢铁公司(US Steel)在作为美国国内生产商发言时毫不客气地反对补贴,曾被指控在收购科希策钢铁厂时接受了斯洛伐克政府过于慷慨的交易。作为斯洛伐克加入欧盟的条件的一部分,欧洲委员会(EC)要求严格限制科希策的钢铁产量以及新母公司可获得的外国投资者税收抵免,直到2009年。经过友好的三方谈判3月份商定了总额为5亿美元的税收抵免,并确定了今年和明年的Kosice税单。欧盟委员会于9月底批准了该交易。事实证明,要使美国政府同意与世界贸易组织(WTO)规则相一致的继承补贴的定义,将更加困难。美国以对某些欧盟钢铁进口产品征收反补贴税为由来保护国内钢铁生产商,这些理由是由钢厂提供的,这些钢厂在过去曾获得过补贴或廉价贷款。

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