Sun Sets On Banana Wars As EU Agrees To Cuts

Law360, New York (December 15, 2009, 4:58 PM EST) -- Ambassadors from the European Union and Latin American countries have formally resolved their 15-year-old tussle over banana imports, clearing the path to end one of the longest-running trade disputes since World War II.

Meeting at the World Trade Organization in Geneva Tuesday, the representatives agreed on a deal in which the EU will gradually pare its import tariffs on bananas from Latin America from €176 per ton to €114 over the next seven years, in exchange for settlements at the WTO with the U.S. and Latin...
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