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America is addicted to the EU embargo – and it could cause great harm

America is addicted to the EU embargo – and it could cause great harm

The US has formally asked the EU to postpone the implementation of the certification obligation for cocoa, timber and various health products, and according to the Americans, the regulation will cause serious harm to American producers. By Financial Times acquired In a letter dated May 30, Commerce Secretary Gina Raimondo, Agriculture Secretary Thomas Vilsack and Trade Commissioner Katherine Tai expressed their concerns.

New EU Law

It requires traders to certify that no deforestation occurs in the production of the products they import.

This applies to chocolate, furniture, various livestock products, and more.

In the letter, Raimondo and others wrote that the law “The decisive challenge“It will mean something to American producers. The wood, paper and cellulose industries are particularly affected.These sectors export a significant amount of products to the EU. According to data from the US International Trade Commission, in 2022, US forest products worth about $3.5 billion were imported to Europe.

According to the American Agriculture and Paper Association (AF&PA), it is impossible to comply with the provisions of the law, but it is not just the United States that has spoken out against the regulation: Indonesia and Malaysia, two major palm oil producing countries, are also urging Brussels to postpone implementation of the law, it added.There are also opponents of the law within the European UnionAccording to the United Nations-backed International Trade Centre, the law could exclude small producers in developing countries from the supply chain.

Cover image source: Getty Images

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