Tridge summary
The International Trade Committee of the European Parliament has approved a proposal to increase tariffs on agricultural products from Russia and Belarus by 50%, and a 6.5% tax on fertilizers imported from these countries. The move aims to decrease their dependence on the EU and is expected to significantly reduce EU imports of products from these countries. The legislation also aims to diversify EU fertilizer production and will be voted on at the next plenary session of Parliament.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
MEPs on the International Trade Committee have backed a European Commission proposal to increase EU tariffs by 50% on agricultural products produced by Russia and Belarus, which are still exempt from other import duties. The aim is to further reduce both countries' dependence on the EU. Among the products affected by the new rules are sugar, vinegar, flour and animal feed. The approved text also includes a 6.5% tax on fertilizers imported from Russia and Belarus, as well as an additional tax of 40 to 45 euros per ton for the period 2025-2026. These rates will gradually increase until they reach 430 euros per tonne in 2028. Revenues from Russian and Belarusian fertilizers are considered to directly contribute to financing the war against Ukraine. The proposed measures will significantly reduce imports into the EU of products originating in or exported directly or indirectly from Russia and Belarus. This should encourage further diversification of fertilizer production in the EU, ...
Source: 3tres3
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