Microsoft and much more at risk in trade dispute
Our diplomats and free-marketeers over at the White House have brought the U.S. high tech industry to the brink of the largest trade sanctions in World Trade Organization history because of tax breaks granted to our domestic manufacturers of software, airplanes and other high-ticket stuff. If the $4 billion in punitive duties go into effect, watch Microsoft's revenues carefully.
Forbes says it sees a resolution in the works.
The Financial Times disagrees.
Here's what the President had to say on August 6, 2002, when he signed the Trade Act of 2002:
Posted by Mitch Ratcliffe at April 25, 2003 11:26 AM | TrackBack
With each passing day, America has lost trading opportunities, and the jobs and earnings that go with them. Starting now, America is back at the bargaining table in full force. (Applause.)
I will use trade promotion authority aggressively to create more good jobs for American workers, more exports for American farmers, and higher living standards for American families. Free trade has a proven track record for spurring growth and advancing opportunity for our working families.