The World Trade Organization has ruled that our tax export subsidies--known as Foreign Sales Corporation and Extraterritorial Income Exclusion provisions--are illegal.
FORBES: Fact and Comment
The biggest is the foreign-sales corporation tax.
ECONOMIST: World trade
Fights could break out over corporation tax breaks on foreign sales, another area of friction with Europe where America is clearly at fault.
ECONOMIST: Great stuff, but does it have the president's support?
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