After two years of negotiations, the EU and the US have reached an agreement on the allocation of agri-food tariff rate quotas between the EU and the UK within the framework of the World Trade Organization (WTO).
Tariff rate quotas (TRQs) allow trade in agri-food products at reduced tariffs up to the quota limit.
The agreement retains the original trading volumes, but distributes import quotas between the EU and the UK. The division is based on recent trade flows.
The United States is the...