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WTO Rules Against Washington on Export Tax Breaks

The European Union plans to re-impose sanctions on as much as $4 billion worth of U.S. goods after the World Trade Organization ruled that Washington has not ended illegal tax breaks for U.S. exporters.

A WTO panel issued the ruling Monday. It gives Washington three months to bring its laws into compliance with treaty agreements or face retaliatory tariffs.

Washington had repealed the offending law, but the WTO says a replacement law is still unfair.

Some information for this report was provided by AP and Reuters.