The details of the compromise agreement between the EU and Ukraine on free trade have become known
Ukraine
Poland
France
Hungary
Regulation & Compliances
Published Mar 29, 2024
Tridge summary
European Union countries have agreed to extend duty-free trade for Ukraine for an additional year to maintain its nearly unrestricted access to the EU market beyond June 5, despite protests from farmers concerned about market oversupply. This decision, pending European Parliament approval, includes a compromise to potentially restore tariffs on certain imports if necessary, but notably excludes wheat from restrictions. The move aims to support Ukraine while addressing EU farmers' concerns over increased imports of products like corn, poultry, sugar, and eggs, amidst broader discussions on the EU's green deal and recent farm protests across Europe.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
Original content
European Union countries on Wednesday reached a difficult compromise on extending duty-free trade for Ukraine for another year under pressure from protesting farmers. This is reported by Bloomberg. The agreement was the result of a preliminary agreement with the European Parliament last week, which proposed to restore tariffs on imports of certain products from Ukraine in the event of an oversupply. According to officials familiar with the decision, the compromise agreement will extend the base period for import volumes not exceeding half of 2021 until the Russian invasion. The latest proposal does not include potential restrictions on wheat, despite demands from France, Poland and Hungary. The extension of the so-called autonomous trade measures, which has yet to be approved by the European Parliament, will allow Ukraine to maintain almost unhindered access to the EU market after June 5. EU countries generally supported the extension, but some insisted that the EU executive ...
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