International Business

Banana Trade Sanctions Opposed: Belize Prime Minister Manuel Esquivel has asked U.S. officials to drop a trade action against the European Union over banana import quotas. Esquivel said in Washington this week that if the United States followed through with threatened sanctions, it would “virtually destroy the banana industry in the Caribbean.” The U.S. proceeding results from a complaint from Chiquita Brands International Inc. of Cincinnati, alleging that the quotas unfairly cut its share of the European market. The EU has said the quotas are needed to aid the economies of territories and former colonies in the Caribbean.