EU v US in $100 Billion Landmark WTO Case
The United States reportedly could be required to pay the European Union and other World Trade Organization partners as much as $100 billion in damages, due to federal legislation last year that increased restrictions on Internet gambling.
But an unnamed U.S. trade official pooh-poohed this contention, calling the damages being claimed by Internet gambling sites exaggerated, reports Reuters.
At least one expert disagrees: “This is by far the most significant WTO case ever and its implications for both the U.S. and the EU are enormous,” says Naotaka Matsukata, a senior policy advisor with Alston & Bird, in a written statement. “Given the size of the U.S. gaming market, both the potential benefit for European industry and the corresponding damage to U.S. companies is unprecedented.”
EU member countries are allowed to restrict Internet gambling, so long as they treat domestic and foreign countries equally.
Associated Press (EU Online Gaming Sites: US Owes EU $100 Billion In Trade Concessions).
