EU Considers Temporary Return to Pre-War Trade Terms with Ukraine
The EU is pondering a temporary return to pre-war trade terms with Ukraine as war-related tariff suspensions approach their expiration date. The transitional proposal seeks a seven-month period awaiting a new negotiation outcome. The focus remains on aligning Ukraine with EU production standards amidst farmers' protests against influxes of cheaper Ukrainian goods.
The European Union is contemplating a temporary reinstatement of its pre-war trade agreement with Ukraine, should renegotiation efforts not conclude before the expiration of war-related tariff suspensions set for June 5, as reported by EU diplomats on Wednesday.
In June 2022, the EU had originally abolished duties and quotas on agri-food products in support of Ukraine amidst the ongoing conflict, particularly following threats to vital Black Sea trade routes. This interim phase, proposed by the Commission, aims to last seven months, allowing time for a new agreement to take effect.
While dialogue continues between Ukraine's finance minister and the EU, the Commission has announced no plans of extending current suspensions. Instead, efforts are focused on aligning Ukraine with EU production standards and installing safeguards against market disturbances caused by surging imports such as sugar and poultry, which have drawn protests from EU farmers.
(With inputs from agencies.)
Google News