Farm406

farm406 44 One of the reasons for this apparent competitive lag is the events of policy enacted by the EU in the early 1990s. During this period, the European Union introduced a restriction on all imported beef from animals treated with growth-promoting hormones. e ban was the result of consumer concerns about the role of mad cow disease on food safety. As shown in the graph above, this initial policy essentially eliminated U.S. beef exports to the EU. However, because there was a lack of scientific evidence to support the association between hormone-treatment and food safety, the World Trade Organization (WTO) ruled against the EU (and in favor of Canada and the United States) in 1998. at decision allowed the United States to place retaliatory tariffs on EU goods. In 2009, as a path toward lowering trade restrictions, the United States and the European Union agreed on a memorandum of understanding (MOU). e MOU would initiate a three-phase process for allowing U.S. beef to be imported into the EU in exchange for lower U.S. import tariffs on EU products. By Anton Bekkerman e United States produces, arguably, some of the highest quality beef in the world. Countries in the European Union have some of the highest per capita income and spend some of the highest amount of money on their food. e natural link, it seems, is that the EU should be importing a lot of U.S. beef. But, as the figure below shows, while the United States is one of the top five importers of frozen and chilled beef into the EU, it is certainly outpaced by many of its primary competitors. U.S. Beef Exports to the EU Could More Than Double

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