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EU lifts US import duties

The European Union (EU) has lifted 14% retaliatory duties on imports of a wide range of US-produced recyclable materials after Congress abolished foreign sales corporations giving illegal tax breaks to US exporters. The EU Council of Ministers has suspended these duties until next January, while the World Trade Organisation (WTO) examines whether the successor legislation, the American Jobs Creation Act, complies with its rules. These duties will be scrapped permanently if ...