The End of the Banana Food Fight?

"The European Union ended one of the world's longest-running trade battles Tuesday as it agreed to cut import tariffs on bananas from Latin America grown by U.S. corporations like Dole Food Co., Fresh Del Monte Produce Inc. and Chiquita Brands International Inc. The settlement, which national lawmakers are expected to ratify within four months, trade officials say, means less-expensive bananas for Europeans, more profit for U.S. fruit companies and lower revenue for some former EU colonies. It ends a 16-year-old trade dispute over access to the EU's $6.7 billion banana market, the world's largest. Since 1993, when it set up its tariff-free zone, the EU has offered the best import rates to 12 former colonies, places like Cameroon, Ivory Coast and Belize."

EU Ends 16-Year Banana Trade Battle
by John Miller
http://online.wsj.com/article/SB126089161812692163.html?mod=WSJ_hpp_MIDDLENexttoWhatsNewsSecond