April 15, 2021, 7:35

EС Recommends Talks on Settling WTO Dispute on US Beef Export

EС Recommends Talks on Settling WTO Dispute on US Beef Export

MOSCOW (Sputnik) – The European Commission has recommended to launch talks on resolving a long-lasting World Trade Organisation (WTO) dispute between the European Union and the United States on the export of US beef.

“The Commission recommends to the Council to open negotiations with the United States in order to settle a longstanding World Trade Organisation (WTO) dispute on the export of US beef. The Commission decided today to ask the Council for a mandate to discuss with the United States the review of the functioning of an existing quota to import hormone-free beef into the European Union,” the press release reads.

The commission recommends allocating to the United States a part of the existing quota, which is available to exporters from other states.

READ MORE: ‘Trump Sees Trade as Game in Which a Country Wins and a Country Loses’ — Prof

The suggestion comes following the Joint Statement of 25 July, in which European Commission President Jean-Claude Juncker and US President Donald Trump agreed to start a new stage of the US-EU relations, incorporating friendly relationship and strong trade ties.

Trump stated on August 30 that he could pull out of the WTO, potentially undermining one of the foundations of the modern global economy, which the United States was instrumental in creating.

The trade relations between Washington and Brussels have deteriorated since June after Trump imposed import tariffs on steel and aluminum from the European Union, which, according to the bloc, targeted over $7.4 billion worth of the EU exports. The move prompted disagreements on industrial metals, cars, and agricultural products.

Source: sputniknews.com

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