EU agrees farm quotas with US post-Brexit
Beef and rice
(BRUSSELS) - The European Union and the United States concluded negotiations Monday to adjust the European Union's World Trade Organization (WTO) agricultural quotas, following the UK's withdrawal from the EU.
This is the culmination of two years of negotiations in the WTO framework to divide these EU quotas, with part of the volume remaining with the EU 27, and part going to the UK, based on recent trade flows. The agreement covers dozens of quotas and billions of euros of trade including for beef, poultry, rice, dairy products, fruits and vegetables and wines.
Agriculture Commissioner Janusz Wojciejowski said he was delighted to have reached agreement: "This agreement – done inside the framework of the WTO – preserves the original volumes but shares them between the EU and the UK. It gives certainty and stability to agricultural trade and our markets. I am particularly pleased that this agreement marks the significance of our trade and economic relationship."
The EU is conducting similar tariff rate quotas (TRQ) apportionment negotiations with twenty-one other partners having rights to access these quotas, and has concluded negotiations already with Argentina, Australia, Norway, Pakistan, Thailand, Indonesia and others.
Once the Commission has adopted the EU-U.S. Agreement, it will then be sent to the Council and European Parliament for ratification, so that it can enter into force as soon as possible.