U.S. President Donald Trump agreed in July not to impose tariffs
on EU car imports while the two sides explored ways to boost
trade including a possible deal to remove tariffs on non-auto
industrial goods and to boost EU imports of U.S. soybeans and
liquefied natural gas.
The Commission said in a statement the recognition of U.S.
soybeans for use in biofuels was valid until July 1, 2021, but
could extend beyond that date as long as they met sustainability
criteria set in new EU rules in the 2021-2030 period.
"Today's decision is new proof that the European Union is
delivering on our commitments," a Commission spokesman said.
The Commission, which negotiates trade deals for the 28-nation
EU, has said the July agreement led to a 112 percent rise in
U.S. soybean imports in the second half of 2018. The U.S. share
of the EU market is now about 75 percent.
The increase has been driven by a slide in the U.S. soybean
price, which slid after China imposed higher tariffs on U.S.
beans in its trade row with Washington, rather than because of
any concerted action by the EU, analysts said.
The EU imports about 14 million tonnes of soybeans per year as
feed for animals.
(Reporting by Philip Blenkinsop; editing by David Evans)
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