Local view for "http://purl.org/linkedpolitics/eu/plenary/2012-03-14-Speech-3-259-500"
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"en.20120314.22.3-259-500"2
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"A dispute over beef treated with hormones adversely affected transatlantic trade relations in the area of agricultural products for more than two decades. In 1988, for reasons of consumer protection and food safety, the EU banned imports of beef and meat products that had been treated with certain growth hormones. Although the dispute over beef treated with hormones concerned a relatively small volume of trade, it led to a reduction in trade and had significant consequences on both sides of the Atlantic. Close trading partners entered into a long-running trade dispute. Continued application of retaliatory tariffs on certain European products hampered exports and EU producers subsequently suffered a loss of market share.
Through bilateral negotiations between the EU, the USA and Canada, however, a pragmatic way was eventually found of avoiding the destructive dynamics of trade sanctions. The negotiations have resulted in ‘Memoranda of Understanding’ that will see the gradual lifting of sanctions imposed on EU agricultural products by the USA and Canada, in exchange for an autonomous, zero-duty, tariff-rate quota for high-quality beef not treated with hormones. The Memoranda of Understanding and their application clearly create a situation that is mutually beneficial to the trade partners. I firmly believe that the rapid and smooth adoption of the submitted regulation will help to restore and strengthen mutual trust and overcome the existing differences in transatlantic trade relations in this sector."@en1
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