Ag Trade To EU Expected To Increase

U.S. agricultural exports to the European Union are expected to be on the rise soon, after a weekend announcement by President Joe Biden. 

"The United States and the European Union have agreed to negotiate the world's first trade agreement based upon how much carbon is in a product as we negotiated the steel and aluminum tariffs that are in place."

Those Section 232 tariffs against E.U. steel and aluminum products will be replaced with a tariff rate quota under Section 232. More importantly to ag, the removal of previous tariffs results in the E.U. agreeing to lift retaliatory measures on American exports like pork, dairy, orange juice and other commodities. 

"The deal will immediately remove a point of significant tension with our friends in the European Union."

For instance, the United States' corn industry faced a 25% tariff for export into the European Union under the previous retaliatory tariffs.

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