EEC minimum import prices
EEC minimum import prices: a complicated case brought by the United States against the European Economic Community (EEC) in 1978. It took two years to sort it out. The United States made three claims: (a) that the EEC system of minimum import prices for tomato concentrates was not consistent with its GATT obligations, (b) that the EEC licensing and surety systems were similarly inconsistent with GATT obligations, and (c) that the EEC systems of minimum import prices, licensing and surety deposits nullified or impaired benefits accruing to the United States. The complaint followed the adoption by the EEC of several regulations setting a minimum import price for tomato concentrates. These required importers to obtain an import certificate and to lodge a security to guarantee that the products would be imported by a certain date. The import security was forfeited if there were no imports within the specified time. There was an additional
Source: http://ctrc.sice.oas.org/trc/WTO/Documents/Dictionary%20of%20trade%20%20policy%20terms.pdf
Web site to visit: http://ctrc.sice.oas.org
Author of the text: W. Goode
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