A reference to an extensive (16year) legal conflict between the European Union and US corporations to reduce import tariffs of specific fruit from Latin America: The heads of the corporations celebrated the end of the Banana Tariffs allowing them to increase their profits and lowering the prices of bananas in Europe.

The World Trade Organization (WTO) has consistently ruled against how the EU set tariffs for bananas, forcing the 27-country bloc to over haul a system that grants preferential conditions for producers from African and Caribbean countries, mainly former British and French colonies.