Dispute Between U.S. And WTO Over Internet Gambling Could Cost The U.S. Billions

[Purveyor]

Source: Associated Press

WASHINGTON (AP) -- With time running out, the tiny Caribbean island nation of Antigua and Barbuda holds the cards in a dispute over Internet gambling that could ultimately cost the United States billions of dollars.

If arbitration efforts fail, Antigua and other aggrieved parties, including the European Union, could begin exacting sanctions as early as next month over the U.S. decision to withdraw from a World Trade Organization accord recognizing the legality of Internet gambling.

Antigua is seeking sanctions worth $3.4 billion, and has suggested it might claim that sum by becoming a harbor for pirated intellectual property such as movies and musical recordings. Total sanctions claimed by the EU, India and other countries approach $100 billion, although the United States, in negotiations, contends that appropriate levels of compensation would be far less.

Eight House Democrats, including Judiciary Committee Chairman John Conyers and Financial Services Chairman Barney Frank, on Monday wrote U.S. Trade Representative Susan Schwab expressing surprise that the USTR had moved on the issue without consulting with Congress on possible solutions. The lawmakers said they viewed the administration action "as a drastic step which could have significant consequences for the entire WTO system.''



Read more: http://www.wave3.com/Global/story.asp?S=7383865

[fascisthunter]

1. How Far in Debt is the US? (nt)

[Ian David]

2. I predict that Antigua and Barbuda will be new entries in The Axis of Evil that need Freedom.

They're probably only a couple centuries away from developing the desire to seek knowledge of nuclear weapons.

[Ian David]

3. Thanks again, Jack Abramoff and James Dobson! n/t