EU, US Reach WTO Settlement

17 December 2007

The United States today agreed to compensate the European Union, Japan and Canada for closing its borders to Internet gambling.

The parties have been in negotiations over the United States' decision in May to withdraw gambling services from its commitments to the General Agreement on Trade in Services. Under GATS, WTO members may modify their commitments, but in doing so must compensate other members affected by the change.

The agreement involves warehousing services, technical testing services, research and development services and postal services relating to outbound international letters, said Gretchen Hamel, spokesperson for the U.S. Trade Representative.

The value of the agreement is being kept under wraps, but it is thought to be far less than the $100 billion the European Union was reportedly seeking.

IGN will follow up with more details later.

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