Daily Management Review

EU To Increase Beef Imports Form Eth EU, But Call For Removal Of US’s Metal Tariff


11/29/2019




In a move that is seen to possibly reduce the trade tensions between the European Union and the United States as the lawmakers of the economic block decided to increase the import of beef form the US.
 
However the EU also took a dig at the import tariffs imposed on metals from the EU by the US president Donald Trump as well as his threat to impose additional tariffs on car and auto parts imported from the EU.
 
A proposal to increase the US beef imports from the current 45,000 tonne starting 2020 was voted by 457-140 at the European Parliament with 71 abstentions. However a resolution was also passed by the lawmakers along with the vote that called on the US administration to remove the tariffs on steel and aluminum imported into the country form the EU and urged Trump to withdraw the threat of imposing tariffs on cars exported into the US from the EU.
 
This decision on increased beef imports has its roots in a dispute that dates back to 1981 when the use of growth hormones was banned by the EU for all meat sold in the 28 country block which also included imported meat.
 
An interim arrangement was struck between the US and the EU in 2009 in which a quota for importing hormone-free beef was set which currently is 45,000 tonnes.
 
However the quota also had to be made available to non-US suppliers of beef according to the regulations of the World Trade Organization (WTO). And when the quota was utilized by other beef exporters such as Australia and Uruguay, and more recently Argentina, for selling exporting beef into the EU, the market share of such beef imported from the US shrunk to 30 per cent from almost 100 per cent.
 
According to the latest revision of the quota, an initial 18,500 tonnes of the quota will be given to US farmers which is planned to be raised to 35,000 tonnes after a period of seven years. This revision had ot be agreed to by the other countries that export meat to the EU.
 
“The message of this agreement is clear: we would like to de-escalate trade tensions with the U.S, but we want to see the same efforts of de-escalation on the other side of the Atlantic,” Bernd Lange, the head of parliament’s trade committee, said in a statement.
 
A call on the Trump administration to settle the long standing dispute over government subsidies to US and EU plane makers was also given by the EU lawmakers. That dispute has also been taken to the WTO by both the parties where the US has been awarded permission to impose some tariffs on EU products and it is expected that the EU will also be given the same verdict early next year.
 
The US was also criticized by the EU lawmakers of attempting to block appointments to the Appellate Body of the WTO. All of the trade disputes between the members states of the WTO are heard and decided by the global trade regulator and therefore not appointing members to the Appellate Body could lead to a stalemate of the pending cases with the WTO.
 
(Source:www.reuters.com)






Science & Technology

Airbus: Passenger hybrid aircraft to take off before 2035

Ocado To Introduce ‘Mini Robotic Warehouse’ With Standard Productivity

AB InBev’s Piled Up Alcohol Is ‘Too Good to Waste’

Ericsson Mobility forecasts nearly fourfold increase in mobile traffic by 2025

Elon Musk: We received 146,000 orders for Cybertruck

Google turns the screws on political ads

Apple to come up with AR glasses

WEF: Big data regulation becomes a problem

Israeli Firm Accused Of Spying By WhatsApp, Lawsuit Filed Against It

Google Used Quantum Computer To Solve Complex Problem

World Politics

World & Politics

Protests in France gain the greatest scale since 2010

Massive blackout unfolds in Venezuela

French And Russian Presidents To Discuss The Moratorium On Missiles In Europe

EU adopts budget for 2020, more funds allocated to climate change fight and innovation

Israeli prime minister indicted in three criminal cases

Argentina finds a way to pay off IMF loan

Sweden closes Assange rape inquiry

Has Chile Put All Its Eggs In One Basket To Turn Towards Renewable Energy?