EU Farmers Get Trade Shield Ahead of Mercosur Vote
Sourse: dairynews.today
The EU is implementing new farmer protections against potential impacts from the Mercosur trade deal, aiming to secure its ratification.
The European Union has introduced detailed measures to protect its farmers from cheaper imports from Mercosur nations, as it attempts to gain support for the expansive trade agreement. These measures include launching investigations if import prices are at least 10% lower than domestic EU products, potentially withdrawing preferential tariffs if serious injury to EU producers is proven.
The Mercosur trade pact, under negotiation for nearly 25 years, proposes to create one of the largest free trade zones globally, covering 780 million people, by removing duties over a 15-year span. The agreement's approval hinges on the EU's member states and the European Parliament support, amidst significant opposition from the EU's agriculture sector, which fears economic and environmental repercussions. It currently exports $272 billion worth of agricultural goods annually. The new protections aim to quickly address any detrimental surge in imports or price competition affecting sensitive sectors such as beef, eggs, and ethanol.
The Mercosur trade pact, under negotiation for nearly 25 years, proposes to create one of the largest free trade zones globally, covering 780 million people, by removing duties over a 15-year span. The agreement's approval hinges on the EU's member states and the European Parliament support, amidst significant opposition from the EU's agriculture sector, which fears economic and environmental repercussions. It currently exports $272 billion worth of agricultural goods annually. The new protections aim to quickly address any detrimental surge in imports or price competition affecting sensitive sectors such as beef, eggs, and ethanol.
