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TIME: Almanac 1990
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1990 Time Magazine Compact Almanac, The (1991)(Time).iso
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010989
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01098900.007
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1990-09-17
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BUSINESS, Page 48Business NotesTRADEA Sizzling Beef War
The U.S. may take pride in the quality of its steaks, but the
Europeans have turned up their noses at American beef. The result
could be a full-fledged food fight. Starting Jan. 1,s the European
Community will ban U.S. meat that has been treated with growth
hormones. The rule applies to virtually all U.S. beef exports to
the E.C., worth about $100 million a year. In retaliation, the
Reagan Administration is slapping 100% ]tariffs on $100 million
worth of annual food imports from Europe, including Danish hams,
Italian canned tomatoes and West German instant coffee.
The E.C.'s ban is based on concerns that animal growth hormones
might be hazardous to humans. Reagan Administration officials
insist that there is no scientific support for the claim. But under
pressure from consumer groups, Italy, West Germany, the Netherlands
and Belgium have banned the additives, which prompted the E.C.'s
import restriction. While the U.S. has stood firm on the issue,
other meat exporters (New Zealand, Brazil, Argentina and Australia)
have agreed to ship only hormone-free beef to Europe.
The tussle adds to U.S. fears that Europe's movement toward a
unified market in 1992 will raise increasing barriers to outside
competition. The beef war already shows signs of escalating. E.C.
officials are preparing a list of U.S. food imports as
counterretaliatory targets. Among them: dried fruit, canned corn
and honey.