
The European Union’s recent retaliatory tariffs on agricultural goods stand to affect Virginia agriculture, but Virginia Farm Bureau is optimistic the Biden administration can work toward resolving trade tensions.
The EU recently announced it would impose a 25% tariff on several farm commodities and foods. This was in response to the Boeing-Airbus case at the World Trade Organization, a long-standing dispute between the U.S. and EU over government subsidies for civil aircraft production.
This is the latest move in the case dating back to 2006, and many Virginia products are on the list of agricultural goods targeted by the tariff, including tobacco, cotton, peanuts, wheat, seafood and grapes.
“As is frequently the case, U.S. food and agriculture are being dragged into a dispute that they had nothing to do with,” said Ben Rowe, national affairs coordinator for Virginia Farm Bureau Federation. “By consistently running a surplus, agriculture is a routine bright spot in the U.S. balance of trade. However, this also makes it first on the list in retaliatory tariffs, regardless of the type of goods and services directly related to the dispute.”
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