International Business: Global Wrapup
BREAK FROM GATT
Thanks to heavy lobbying by the Clinton Administration, the General Agreement on Tariffs & Trade (GATT) will delay its ruling on the European Union's challenge to U.S. car fuel-efficiency standards and gas-guz-
zler taxes until the fall. That should give the President time to win congressional approval of legislation implementing a new World Trade Organization. An adverse ruling from GATT might have doomed the WTO, GATT's would be successor organization, which is already coming under heavy fire in Congress for violating American sovereignty.