The United States and the European Union (EU) have signed a tariff quota agreement (TRQ) to preserve existing access to the European agricultural commodities market, following the UK's exit from the bloc in 2021.

The agreement is expected to restore favorable market access to a number of U.S. products -- including rice, almonds, wheat and corn -- and the new allocations are based on the historic pattern of agricultural exports to the 27 EU member countries.

The agreement was signed by Us Trade Representative Katherine Tai, Sweden's permanent representative to the European Union, Ambassador Mikael Lindvall, and The Deputy Director-General of the European Commission for Agriculture and Rural Development, Michael Scannell.

Source: Canal Rural