• Categories
  • Archives

Brazil and Eight Other Countries Win First Round of Banana War

The World Trade Organization (WTO) ruled Monday, August 1st, in favor of Brazil and eight other Latin American countries that had challenged an increase in the European Union’s tariff on bananas scheduled to take effect next year.

The European Commission planned to increase tariffs on Latin American bananas from 75 euros (US$ 91) to 230 euros (US$ 279) per ton. Latinamericans argued they would have a “devastating effect” for the region.


Currently Latinamerican banana exports to EU are limited but the duty per ton never exceeds 75 euros. Proposals to replace quotas with higher duties would cost producers more and threaten livelihoods, the group of Latin American countries had claimed.


WTO officials concluded that “this increase is significant” and makes Latin American banana producers’ access to the European market more difficult.


Once WTO officially communicates its decision to the sides involved, EU will have ten days to propose a new tariff system.


Latin American countries covered by the ruling are Brazil, Colombia, Costa Rica, Ecuador, Honduras, Guatemala, Panama, Brazil, Venezuela and Nicaragua


Mercopress – www.mercopress.com

Tags:

  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

The Lula Factor: How Brazil’s Former Metal Worker Became a Brilliant Strategist

The Financial Times did a six-page story on the development of Brazil, stating that ...

In Competitiveness Brazil Gets an F

Brazil is 39th in international competitiveness, according to the Competitiveness Indicator (IC) calculated by ...

New Rules at Mercosur Give More Power to Brazil

In a move that opens the way for the creation of a Supranational Justice ...

To the Rescue

By raising the rate it charges for lending, the Brazilian central bank hopes to ...

Brazil Vows 1 Million Volunteers Will Greet Cup Tourists with a Smile

During the seminar, Brazil: Are you Ready for the World Cup and the Olympics? ...

Wave of Violence in Haiti Is Just Rumor, Says Brazil’s Defense Ministry

The security in Haiti is under control, says the Brazilian ministry of Defense in ...

Families of Plane Crash Victims in Brazil Accuse Government of Insensitivity

In São Paulo, relatives of the victims of Brazil's latest and deadliest air accident ...

For Greenpeace, Brazil Is Serious About Ending Illegal Logging in the Amazon

The Brazilian Federal Police carried out a full-size operation in Mato Grosso which resulted ...

A Brazilian Musical Celebration Finds Its New York Expression

In Northeastern Brazil a forró party unites communities and generations, with couples dancing, locked ...

Meet Ms. Vasconcelos, a Brazilian Fashion Broker

The Brazilian businesswoman from Minas Gerais, a state in the southeastern region of the ...