EU, Latin America End 20-Year Banana Feud

Law360, New York (November 8, 2012, 2:58 PM EST) -- The European Union has formally resolved its more than 20-year trade dispute with 10 Latin American countries over tariffs on bananas, the World Trade Organization said Thursday.

Europe signed an agreement with Brazil, Colombia, Costa Rica, Ecuador, Guatemala, Honduras, Mexico, Nicaragua, Panama, Venezuela and Peru to gradually reduce the tariffs on bananas, finalizing a WTO-brokered deal struck in 2009.

The deal, which will reduce the tariffs in small steps from €176 per metric ton to €114 per metric ton in 2017, resolves the longest-running trade dispute...
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