section_path: Politics/Regionalism/United States–EU trade dispute
section_name: United States–EU trade dispute
paragraph_text: United States–EU trade dispute
  
  The United States under President Bill Clinton launched a challenge in the World Trade Organization against the EU over Europe's preferential program, known as the Lomé Convention, which allowed banana exports from the former colonies of the Group of African, Caribbean and Pacific states (ACP) to enter Europe cheaply. The World Trade Organization sided in the United States' favour and the beneficial elements of the convention to African, Caribbean and Pacific states have been partially dismantled and replaced by the Cotonou Agreement.
  
  During the US/EU dispute, the United States imposed large tariffs on European Union goods (up to 100%) to pressure Europe to change the agreement with the Caribbean nations in favour of the Cotonou Agreement.
  
  Farmers in the Caribbean have complained of falling profits and rising costs as the Lomé Convention weakens. Some farmers have faced increased pressure to turn towards the cultivation of illegal drugs, which has a higher profit margin and fills the sizable demand for these illegal drugs in North America and Europe.