World: Trade agreements signed, expanded, and cancelled

The Trade Committee of the European Parliament has approved the CETA Free Trade Agreement between Canada and the EU. Vote of the full assembly will follow mid-February. Most import taxes for grains and grain products will be lowered by 7.5% annually during an 8-year transition period, after which duties will be zero on both sides, H. M. Gauger GmbH reported early in February.

The TTIP negotiations with the USA will certainly be discontinued under the Trump administration. The TPP (trans-Pacific) agreement has been cancelled, and the NAFTA agreement in North America is under threat of revisions as well, mostly between the U.S. and Mexico. Mexico and Canada are the second and third largest customers of U.S. agri-products.

As of this year the DCFTA (deep and comprehensive FTA) between the EU and the Ukraine is in force. The duty-free quantity of barley imports into the EU rises from 250 to 270,000 tonnes. An additional annual quota of 350,000 tonnes of barley will be decided upon in spring.

19 February, 2017