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Al-Ahram Weekly 15 - 21 April 1999 Issue No. 425 
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Published in Cairo by AL-AHRAM established in 1875 |
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Al-Ahram Weekly 15 - 21 April 1999 Issue No. 425
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| Published in Cairo by AL-AHRAM established in 1875 |
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Egypt Region International Economy Opinion Culture Profile Features Travel Living Sports People Time Out Chronicles Cartoons Letters A black day for bananas
FOUR DAYS after the WTO arbitration panel ruled that the EU banana regime did in fact contravene WTO rules, the US announced Sunday that it would be proceeding with trade sanctions against a number of EU countries in retaliation for the damages it claims have been suffered by US-based multinational fresh produce distributors, including Chiquita Brands, Dole and Del Monte.The sanctions will consist of 100 per cent tariffs on nine European products, including British bath preparations, French handbags, Italian bed linen and German coffee makers. Other countries affected are Austria, Belgium, Finland, Greece, Luxembourg, Portugal and Sweden. Sanctions will remain in force until the EU has made the required substantial changes in its current quota, tariff and licensing regime. The list of products to be sanctioned differs from that originally announced, however, after the WTO panel slashed the US estimates of lost trade from $520 million to $191 million.
US Trade Representative Charlene Barshefsky welcomed the decision that the changes previously made to the EU regime were merely "cosmetic" as a vindication of the present WTO disputes settlement mechanism: "It actually does work", she told reporters. The EU meanwhile indicated that, having exhausted all appeal procedures, it would now comply with the WTO ruling.
