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On Friday, US president Donald Trump officially announced that the US would now be able to send increased amounts of hormone-free beef to the EU.
The deal, originally announced back in June, will see the EU ring-fence 35,000t of its hormone-free beef quota for US imports.
The imports will be phased in over a seven-year period.
Quota
In 2009, it was agreed that the EU would create a tariff-free quota of 45,000t of hormone-free beef access to the EU. The US will now have access to the vast majority of this quota.
A statement from the European Union said that the the agreement signed on Friday is “fully in line with WTO rules and establishes that that 35,000t of this quota will now be allocated to the US, phased over a seven-year period, with the remaining amount left available for all other exporters.
Easier
US president Donald Trump welcomed the deal saying the agreement will make it easier to export American beef to the EU.
“Our beef farmers, we didn’t think were being treated fair but the European Union stepped up and we appreciate it.
“American beef is considered the best in the world,” Trump said.
In year one, duty-free American beef exports to the EU will increase by 46%, over seven years they will increase by another 90%, he said.
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