However, the beef deal could ease tensions between the two sides, which are each other`s main trading partners. The current quota of 45,000 tonnes of cereal meat can be recovered by the United States, Australia, Canada, New Zealand, Uruguay and Argentina. Therefore, the zero tariff rate quota for cereals is not allocated, but after the first arrival, the first (FCFS) is available. The quota is managed by the EU and access to it cannot be guaranteed, even with an Australian government quota. One theory says that it was difficult for South American member states to agree among themselves on the terms of the deal they would accept, which led to a “soft” result for beef. Some felt that the negotiators were distracted because China now occupied much of South America`s attention as a client and simply wanted to “keep going.” The beef deal could help alleviate some of the damage to the domestic agricultural industry, as Beijing has imposed tariffs on U.S. products in retaliation to the U.S. Taxes on China. The agreement was initially concluded in June and approved by EU member states in July. On Friday, U.S.
Trade Representative Robert Lighthizer and his European counterpart formalized the deal. The EU and the US finally reached an agreement in 2009 on the granting of an import quota for Cindindrical meat without HGP, which is currently 45,000 tonnes. However, according to World Trade Organization rules, the quota was also to be made available to non-U.S. suppliers. Australia and Uruguay, and more recently Argentina, have been able to meet quota requirements, increasing the U.S. share from nearly 100% to 30% over time. The Ministry and Bord Bia are “actively engaged” with the European Commission in the development of a protected geographical indication for Irish beef. The new agreement negotiated by the Trump administration establishes a duty-free tariff quota (TRQ) exclusively for the United States. Under the deal, U.S. ranchers will have an initial TRQ of 18,500 tons per year, worth about $220 million.