Financial Times FT.com

Poorer nations face import tariff rise as EU refuses to budge

By Andrew Bounds in Brussels

Published: December 11 2007 02:00 | Last updated: December 11 2007 02:00

Beef, rum, cocoa and bananas from former colonies will be in effect locked out of the European Union from New Year's day as ministers agreed yesterday to go ahead with hefty tariff rises on imports from poor countries that refuse to sign new trade deals.

The economic partnership agreements (EPAs) replace a preferential regime ruled illegal by the World Trade Organisation. The deadline is December 31 but some countries asked for more time, fearing that liberalisation under the EPAs would damage fledgling industries and deny them customs revenues.

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