US sees US $ 4 billion in agricultural exports from the country at 'risk' because of the EU-Mercosur agreement

The United States has US $ 4 billion in agricultural exports that may be affected to some extent by the trade agreement between the European Union and Mercosur, according to an analysis by the Foreign Agricultural Service of the country's Department of Agriculture (FAS / USDA). The agreement has yet to be ratified by national parliaments. One of the American products that can be harmed is ethanol, which has a 28% share of imports from the European Union, according to the American agency. Between 2015 and 2019, the American ethanol market share in the European market was, on average, 22%, while that of Mercosur ethanol was 7%. With the agreement with the EU, Mercosur will have a tariff-free quota for 570 million liters of ethanol for industrial use and 253 million liters of ethanol for other uses, including fuel. The FAS notes, however, that other countries also export ethanol to the European bloc, and it is not yet known which exporting countries will be most affected. American ...