Business Notes Trade

Yuppies beware! The pricey European food products favored by young urban professionals may soon become even dearer. President Reagan threatened last week to slap new quotas and tariffs on such imports as French white wine, Perrier water, Heineken beer, Guinness stout, Swiss and blue cheese, and Belgian chocolates. The curbs will be phased in beginning May 1 unless the European Community rescinds restrictions imposed last month on $1 billion worth of imports of U.S. soybeans, corn and other agricultural products. Says Secretary of State George Shultz: "If we can't work something out, then we've got to fight it out."