February 01, 2005

Latin America without Banana Trade?

Our Latin America class was asked to write a journal entry on something dealing with Europe and the Americas. I did mine on trading bananas but the article I used didn't give me enough information so I went looking. Here's what I found:

The European Union formally announced to the World Trade Organization that in January of 2006 they will place no quota limit on the Latin American countries but they will have to pay high, I mean High! duties of 230 euros ($290) per metric ton of bananas. The duties on them now is only 75 euros ($97). This is the second article I have found

This is outragous. When I first started this I really didn't understand what it meant. Just more money on goods they already provide. But now I'm starting to understand a little more.

This has gotten so bad that even the presidents of the areas are trying to stop it.

To put it mildly this is what could happen, a total drop in sales by 50%! That is way too much. I hope something comes of this.

If your interested write in comments. I can't seem to find anything from the European Union's point if someone else can let me know!

Posted by Tam Moon at 08:08 PM | Comments (0)