Washington, DC. Today the Section 301 Committee of the US Trade Representative formally received a petition demanding $6.64 billion in compensation for US exporters. In 1984 US exporters were urged to submit business confidential data about their prices, market share, internal costs and market strategy to the International Trade Commission. The USTR guaranteed confidentiality and compiled the data into a classified report for use in negotiating the US-Israel Free Trade Agreement…
The petition recommends the $6.64 billion be proportionally divided between nearly 80 US organizations according to their trailing 10 year revenues. If the Israeli government will not pay damages directly, the petition recommends the US implement a five year import duty over all Israeli exports to the United States to generate the compensation….More