On the heels of two trade “wins” for the administration, the United States and European Union are reigniting trade negotiations—but the administration says no deal unless the EU addresses the agriculture imbalance and regulatory barriers based on "sound science," reports Reuters.
Where things stand: The U.S. and EU have been “locked in a tit-for-tat tariff dispute,” says Reuters, covering everything from steel to wine and spirits to denim. Now, Trump’s threatening tariffs on cars, too.
A breakthrough: Following a meeting between Trump and EU Commissioner Ursula von der Leyen in Davos, the EU agreed to budge a bit on shellfish regulations as well as import more American soybeans and liquified oil, reported Bloomberg.
But oysters aren’t enough: While visiting Europe, U.S. Ag Secretary Sonny Perdue noted the $10-12 billion imbalance in agriculture trade, saying while the parties could address tariffs later, the EU must address regulatory barriers on more than just shellfish ASAP.
What they’re saying: “The European public needs to understand that their producers are going to be at a huge disadvantage...if they choose to be a technology-free zone,” said Secretary Perdue.
The big picture: Agriculture and biotechnology regulations have been a sticking point in pretty much every trade deal—and they’re especially important in China, which has onerous regulations on biotech, biopharma, and genetically modified organisms and opaque approval processes, which delay the sale of these products and stifle innovation. As we look ahead to implementing the China deal and negotiating new deals with the EU and the UK, to name a few, it’s critically important we continue to press for science and innovation. But given the EU’s regulations and averseness to genetically modified food, this could be a tough sell.
The bottom line: Unnecessary regulations like those on GM food in Europe, as well as the long approval timelines in China, harm biotech’s ability to create innovations to help feed the world, develop new cures, and reduce carbon emissions. BIO continues to work to combat misinformation and ensure biotech remains a priority in trade talks, so we can fully realize the benefits of biotech innovation globally.
Dig in:
- Bloomberg: Trade won’t fade as a big disruptor in 2020
- Agri-Pulse: China agrees to $40-50 billion in annual ag purchases for two years
- Agri-Pulse: China makes big push for biotech
- Reuters: U.S. pushing India to buy $5-6 billion more farm goods to seal trade deal
More Agriculture & Environment News:
BIO: Stopping Outbreaks Through One Health: Making Tomorrow's Breakthroughs Possible
“The spread of a deadly new virus in China is just the latest outbreak that highlights the interconnectedness of humans, animals, and the environment—and underscores why the entire biotechnology sector needs to work with partners across the industry to solve humanity’s and the planet’s biggest challenges.”