Trade War? Or Trade Peace?

Any E.C. deal that satisfies the U.S. might mean isolating France

The nominal stakes -- soybeans and Pouilly- Fuisse wine -- hardly seemed worth war. But of course other matters are at issue. The future of French politics, for one. Also the balance of power within the European Community, and Washington's determination to stop playing Uncle Sucker in trade. Oh yes, and a grand trade deal that eventually might give a huge lift to the world economy.

The scrap began when Washington threatened to add a 200% tariff (thus tripling prices) on white wine imported from Europe -- unless the E.C. agrees by Dec. 5 to extraordinary cuts in subsidies that encourage...

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