Banana Bust-Up Beckons for Deloitte & Touche
Deloitte & Touche has stepped into the transatlantic dispute raging between the U.S. and Europe over banana trading.
The Big Five firm has agreed to help a packaging company as it tries to fight a 100% increase in import tariffs on goods it exports to the U.S. The massive rise in duty has been imposed by the American government because the European Union has repeatedly failed to obey instructions to bring its banana trading into line with world trade rules.
Now Beamglow Ltd, which manufactures high quality printed folded cartons, is poised to sue the Council of the European Union and the European Commission for "substantial damages."
Beamglow company secretary Adrian Brown said: "Our business is supplying quality packaging to international and domestic markets. We certainly have nothing to do with bananas. We simply want the right to service our American clients on an equal footing with other companies."
Bob Fletcher, Deloitte & Touche's leader of Customs & International Trade Group, added: "Beamglow Limited has been caught in the crossfire."