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ref date:25 Jan 1999 (ECON)
USA trys to cudgel EU into submission

The United States, which has many virtual colonies in central and Northern South America is very upset that the European Union ( a VERY affluent market of 450 million people already - and set to grow) is offering better trade deals to banana growers in the West Indies and Africa than to these central American states.

In a sulk, the USA plans to put 100% 'luxury' taxes on many European imports including cashmere from Scotland and possibly whisky.

You can bet they wont do the same to BMWs, Mercedes or SAABS as too many businessmen and corrupt US politicians favour these vehicles over many (equally good!) US produced ones....

The USA has to realise its economic muscle is limited its currency is already weaker than the Euro and talk is the way to resolve this dispute.