Banana Trade Between The European Union And The Eastern...

During the late 1900s, there was tension between the United States, the European Union, and the Eastern Caribbean in regards to banana trade. The Eastern Caribbean, which has a banana industry that is highly beneficial for its economy, had an exclusive trade agreement with the European Union for their bananas, otherwise known as the EU-Caribbean Banana Agreement. This agreement exhibited preferential trade between the Caribbean countries and Europe. This agreement allowed the banana farmers of the Caribbean to be protected from other competition, such as Latin America, whose bananas were cheaper due to the fact that they had a larger scale banana plantations. However, in the eyes of the United States, this preferential trade agreement was seen as a form of protectionism, and therefore a threat against free trade. Not only that, but the United States had big multinational corporations backing the banana industry in Latin America, so removing the exclusive trade between the European Un ion and the Eastern Caribbean would be favorable for the United States as the Latin American banana industry would benefit from the removal of the exclusive trade agreement. As a result, in 1997, the World Trade Organization (WTO), who was pressured by the United States, took action against the EU trade agreement, leading to the European Union to change its rules on the trade agreement. With the preferential trade agreement between the European Union and the Eastern Caribbean being altered, theShow MoreRelatedSaint Vincent and the Grenadines Essay1875 Words   |  8 PagesGrenadines Saint Vincent and the Grenadines is located at the southern end of the Windward Islands, between Saint Lucia and Grenada, in the Caribbean Sea, north of Trinidad and Tobago. 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