The Geneva-based General Agreement on Tariffs & Trade has, as expected, found that aspects of the US-Japan semiconductor accord are in violation of the GATT code, according to the European Commission: GATT has not officially announced its decision, which would only become binding after adoption by the GATT Council, which next meets in early May, but the EEC Commission says that GATT found that the third country clause in the agreement, which fixes minimum prices at which Japanese manufacturers may sell chips in countries not party to the pact, is against international law; the complaint that the aspect of the agreement that requires Japan to attempt to buy more chips from the US discriminated against European manufacturers was rejected.
Content from our partners
