U.S., EU REACH TRUCE IN TWO-YEAR BANANA WAR

WASHINGTON -- A two-year trade dispute involving the export of bananas by U.S. companies to European Union countries ended last week.Under the terms of the agreement, the U.S. on July 1 will suspend sanctions imposed on about $191.4 million worth of EU imports since 1999, ranging from French handbags to bath and food products. In turn, the newly announced accord provides for bananas to be exported

WASHINGTON -- A two-year trade dispute involving the export of bananas by U.S. companies to European Union countries ended last week.

Under the terms of the agreement, the U.S. on July 1 will suspend sanctions imposed on about $191.4 million worth of EU imports since 1999, ranging from French handbags to bath and food products. In turn, the newly announced accord provides for bananas to be exported to the EU through licenses until 2006, when a tariff-only system will take effect.

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