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International Outlook: Global Wrapup


Renault is trying to tie its U.S. rival, Chrysler Corp., in red tape. Spurred by a complaint from the French carmaker, the European Community says it will slap a 10% penalty duty on the Voyager minivans that Chrysler produces in Graz, Austria, unless Chrysler pays back more than $100 million of Austria's $145 million contribution to the new plant. Austria used the subsidy, which amounts to one-third of the plant's cost, to lure the facility away from such rivals as Spain and Portugal. Renault worries that the Voyagers will continue hurting the sales of its Espace vehicles. Austria comes under ec jurisdiction because of a 1973 trade agreement.Edited by Stanley Reed

The Aging of Abercrombie & Fitch
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