EU sacrifices for US in its trade war with China

August 15, 2018 | By Admin | Filed in: Business.

Trade war has been out there for a few weeks in its hottest spots where China and US were targeted by one another. However, in this fight, the temporary eased the situation for the US to advance against China. Today we hear that this has been led to a greater sacrifice where EU has imported cheaper soybeans from US at cost of risking its own agriculture.

French farmers are criticizing the European Commission after they condemned Jean Claude Juncker of putting at risk the survival of European agriculture in order to help Donald Trump in its trade war with China. Nicolas Jaquet, the president of the Grain Producers’ Union (OPG) slammed Juncker-Trump alliance to let US soybeans to be imported by EU without any tariff.

This will let more imports from US to EU while the EU farmers are at risk of the agriculture’s sector damage. US is in an open all-out trade war with many countries including China. Recently, the EU agreed to help US to do the job of china first. This has been source of criticism that US will come back to do the same to EU, however, such a thing is currently undergone.

The EU has increased the import of soybeans by 280% in volume which is a great sacrifice for US. EU mainly uses soya to feed castles – as a source of protein – and to produce milk. However, the prices for soybeans of US were attractive enough to tempt EU to import it.

 

Hashtags: #China #US #TradeWar


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