US Settles WTO Online Gambling Claims with the EU

US Settles WTO Online Gambling Claims with the EU

Wednesday, 19 December 2007

The US have come to a settlement agreement with the European Union, Canada and Japan in relation to the US retracting their online gambling market to World Trade Organisation trading partners.

The US have come to a settlement agreement with the European Union, Canada and Japan in relation to the US retracting their online gambling market to World Trade Organisation trading partners. Whilst the EU has said that it will “continue to press for non discriminatory treatment in the US internet gambling legislation,” the agreement does take some of the pressure off the US to make alterations to their current online gaming trade policy.
The announcement by the European Union meant a dip in the stock prices of the publicly traded online gambling companies, who have already suffered in the year pos the UIGEA. PartyGaming shares fell 5.79% after the news was released.
It was believed that the EU sought a compensation package estimated at $100 billion. Gretchen Hamel, spokesperson for the U.S Trade Representatives said the deal, “involves commitments to maintain our liberalized markets for warehousing services, technical testing services, research and development services and postal services relating to outbound international letters.” When pressed, Hamel would not disclose the value of the trade concessions made by the US to preserve its foreign ban on internet gambling.
The EU compensation claim was the largest which threatened the US, but there are still deals which need to be addressed. India, Costa Rica and Macau are all still in talks with Washington, whilst Antigua and Barbuda’s high profile lobbying for the WTO to impose $3.44bn in sanctions is still in dispute.



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