Latest news with #importquotas
Bloomberg
23-05-2025
- Business
- Bloomberg
EU Agrees to Reinstate Trade Quotas on Ukraine as War Drags on
The European Union has agreed to reinstate quotas on imports of several agricultural goods from Ukraine, adding to the challenges faced by its war-hit economy. The limits, which were eliminated in the early stages of Russia's invasion in 2022 to support local farmers, were reimposed by the European Commission on Thursday, a spokesperson told Bloomberg News. The renewed restrictions will come into effect on June 6.
Russia Today
23-05-2025
- Business
- Russia Today
EU to roll back Ukraine trade perks
EU member states have approved the reimposition of import quotas on Ukrainian agricultural goods, European Commission spokesperson Balazs Ujvari has said, as cited by Euroactiv. The current duty-free trade regime is set to expire on June 5. Brussels abolished tariffs and quotas on Ukrainian agricultural produce following the escalation of the Ukraine conflict in February 2022. The bloc adopted special regulations, known as Autonomous Trade Measures (ATMs), aimed at enabling grain and other farm products from Ukraine to reach global markets. However, the influx of cheap Ukrainian produce into Eastern European countries sparked widespread protests among local farmers, particularly in Poland. The latest move, endorsed by a majority of EU nations at a meeting on Thursday morning, introduces a set of 'transitional measures' that will phase out the ATMs and reimpose certain trade controls. Some restrictions have already been reintroduced over the past year, targeting commodities such as oats, sugar, and eggs. The selective reinstatements came in response to months of protests in Poland, Hungary, Slovakia, and other countries neighboring Ukraine, where farmers said they could no longer compete with tariff-exempt goods. Politico previously reported, citing a draft act, that the EU was considering replacing ATMs with revised limits under Ukraine's existing trade framework with the bloc, known as the Deep and Comprehensive Free Trade Area (DCFTA), rather than extending the measures on a yearly basis. Commenting on the latest news, the chair of the Ukrainian Parliament's economic affairs committee, Dmitry Natalukha, told Euractiv that halting the ATMs could cost Kiev more than €3 billion ($3.4 billion), which he said is equal to around 70% of the country's projected total economic growth for the current year.
