EU threatens to set a response tax of 25% on American corn

The European Union considers imposing a response tax of 25% on corn from the United States in return for Washington's actions to increase tariffs for European steel and aluminum, UkrAgroConsult informs.

"In the document published by the European Commission on Friday, corn is in the section A, which will allow the EU to establish a 25% import duty on corn produced in the US, as soon as it is reported to the World Trade Organization," the report said.

It is noted that from September to January the US exported 78 thou. tons of corn, compared to 208 thou. tons over the same period of the previous season. In total in 2016/17 the US shipped 861 thou. tons of corn to the EU.

Earlier it was reported that export of corn from Ukraine in January-February 2018 reached 4.11 million tons. Grain exports amounted to USD 626.05 million.