It’s not looking positive for a trade deal between the European Union and United Kingdom. Should there not be an agreement the E.U. will likely consider the U.K..a third country and will apply tariffs on U.K. products. Will that lead to a smoother path for a trade deal between the U.K. and the United States. Iowa Soybean Association President Jeff Jorgenson says if that were to occur, it would be helpful for U.S. agriculture.
As far as the U.S. moving forward with a trade agreement with the European Union, they remain a difficult entity to negotiate with. Jorgenson says the E.U. is just hurting themselves not accepting biotech crops and putting up other barriers.
The U.S. Trade Representative’s office has been working on trying to forge a deal with the United Kingdom. Jorgenson says the best thing the USTR can do to help soybean farmers is to says the U.S is fully open to trade and wants to move forward.
Tariff levels the E.U. is looking at placing on the U.K. devoid of a trade pact between them is 30 percent for beef and dairy and 10 to 30 percent for pork and poultry.
