EU reduces Argentine restrictions17 June 2002
The European Union is to grant Argentina some leeway over its dismantling of controls on the export of its bovine hides and the import of finished leather, as required by a World Trade Organisation disputes panel ruling, which went against Buenos Aires. These restrictions were supposed to have been lifted by February 28, but some still remain. However, the EU has said that it is prepared to give the Argentine government more time, in light of the 'exceptional difficulties' it has faced on the political and economic fronts and because 'concrete action' has been taken. Nonetheless, Brussels reserved the right to take retaliatory action if the delays become 'unreasonable'.