Ecuador has rejected the European Union's offer to lower banana tariffs to 187 euros per ton, saying that the tariff is still far too high and that international arbitration may be needed to settle the dispute. EU officials fear that trade may be diverted from the protected banana regimes of former European colonies to Ecuador, now the world's biggest banana exporter. (Reuters)
Thursday, September 15, 2005
Ecuador: EU tariff proposal not good enough
Ecuador has rejected the European Union's offer to lower banana tariffs to 187 euros per ton, saying that the tariff is still far too high and that international arbitration may be needed to settle the dispute. EU officials fear that trade may be diverted from the protected banana regimes of former European colonies to Ecuador, now the world's biggest banana exporter. (Reuters)
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This issue drives me nuts. In principle I believe in free trade, but come on now. The U.S. tells others to open markets while imposing its own steel tariffs, and the E.U. does the same while refusing the entry of cheap Chinese bras. Both the U.S. and the E.U. continue to subsidise agriculture, in my opinion the single most important action that increases world poverty.
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