The history of trade relations between the U.S. and the European Community is a long chronicle of pots calling kettles black. Each side regularly accuses the other of protectionist practices. Occasionally, the verbal sniping erupts into action. Over the years, limited trade wars have been waged over such items as beef, chickens, citrus products, soybeans and even pasta. The set- piece battles may have rattled the media but did no lasting damage to the landscape.
Two events sent tensions rising again: the passage in 1988 of the U.S. omnibus trade bill, which provided an arsenal of retaliatory weapons; and adoption of...
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