EU, US tariff battle brewing

LONDON, NOV 14: A major tit-for-tat battle seems to be in the offing between the European Union and the United States over the issue of `banana war’, with the former threatening to take legal action against Washington in the World Trade Organisation (WTO).

The battle of tariffs between Brussels and Washington broke out, when the US officials announced earlier this week their determination to fight the European Union over what it called the 15-nation bloc’s discriminatory banana import rules. The fireshots in the battle were fired on Tuesday when the Americans published a lengthy list of goods which could be subjected to 100 per cent duty.