Yes, we have no more dumb trade policies on bananas! (sort of)
Wednesday, December 2, 2009
The European Union has finally been forced to lower the tariff on bananas which has been unfairly discriminating against producers in Latin America.
Amidst the bad news on trade this week, time for a good news story! The European Union has finally been forced to lower--but not drop--the absurd tariffs on efficient producers that have prevented consumers in Europe from purchasing bananas harvested in Latin America that are far cheaper than those currently entering the EU market duty-free. The EU is now finally allowing consumers to decide what bananas they prefer and where they want them to come from. Sort of.