WTO May Be Good For Chiquita
02/08/2008 07:27:13
GENEVA (AP) -- The World Trade Organization has ruled against the European Union's import tariff for bananas, news that could be very
good for Cincinnati-based Chiquita Brands.
One Wall Street analyst says the tariff costs Chiquita $1 per share each year. So, the verdict will be followed closely by the fruit company, whose shares climbed 9.2 percent in one day last year on early reports that the EU would lose a similar case.
The confidential decision was distributed earlier this week to the parties and confirmed today by trade officials.
It could open the door to millions of dollars in U.S. commercial sanctions if the tariff stays in place. The EU can still appeal.
(Copyright 2008 by The Associated Press. All Rights Reserved.)
APTV-02-08-08 0659EST
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