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. Last Updated: 07/27/2016

EU Slams U.S. Program

BRUSSELS, Belgium -- The European Union has claimed victory in a dispute with the United States over an export support program that the EU claims gives American companies unfair tax breaks worth $2 billion a year.

In a statement Monday, the EU said a preliminary report drawn up by the World Trade Organization accepted its complaints against the so-called Foreign Sales Corporation program, which grants tax relief to U.S. corporations exporting through offshore subsidiaries.