Word: turkeys
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Dates: during 1980-1989
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...long-term supplies of natural gas, which started arriving earlier this year. The project was also financed by heavily subsidized loans granted by the West Europeans. Sorimex, a Renault subsidiary, takes coffee, phosphates and other commodities in exchange for autos in deals with such countries as Colombia, Tunisia, Turkey, Egypt, Rumania and the People's Republic of China. Last year those accords accounted for 30% of Renault's business with developing countries. Almost a fifth of General Electric's $4 billion in exports last year were under countertrade contracts...
...retaliation, the EC reached once again for its familiar weapon, turkey levies. Tariff levels on turkey drumsticks, legs, and quarters were increased 35%, 55%, and 40% respectively...
...Turkey War simmered on and proved to be a major obstacle to Geneva Multilateral Trade Negotiations. In July of 1977 the EC and US agreed on a procedure to handle agricultural matters in the MTN. Each side was to submit petitions to the other concerning its demand for agricultural trade concessions. As late as July 1978 negotiator Robert Strauss admitted that poultry trade was one problem delaying the successful conclusion of the talks...
...dispute was finally resolved with the conclusion of the Tokyo round of trade negotiations. The EC conceded three minor points. First, they agreed to lower levies on turkey drumsticks, breasts, and thighs by using new coefficients for calculating gate prices. Second, they agreed to keep seasoned, uncooked turkey at the bound rate of 17%. Finally, the Community decided to reduce turkey liver levies from 14% ad valorem...
...Turkey War, after dragging on for five years, was finally concluded. "Fighting Over Fabric and Fowl" Michael T. Anderson, Government...