The EP accepted the safeguard clauses concerning the Mercosur agreement

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The legislation – on which an informal agreement has already been reached with the EU member states – was adopted with 483 yes votes, 102 against and 67 abstentions. The board’s press release states: the new regulation determines the conditions under which the European Union can temporarily suspend the tariff preferences set out in the EU-Mercosur trade agreement in the case of agricultural imports from the Mercosur countries – Argentina, Brazil, Paraguay and Uruguay – if the surge in imports causes damage to EU producers. Pursuant to the regulations, the European Commission will launch an investigation into the need for protective measures if the import of sensitive agricultural products – including poultry, beef, eggs, citrus fruits and sugar – increases by 5 percent on average over a three-year period – as opposed to the 10 percent annual threshold originally proposed by the commission – and at the same time import prices remain at least 5 percent below the given domestic price. A member state, a natural or legal person representing the sector, or a professional organization acting on behalf of the sector is also entitled to initiate an investigation if there is a risk of serious damage. The regulation also requires that the European Commission submit a report to the European Parliament on the market effects of the import of sensitive products at least every six months. The Regulation will be published in the Official Journal of the EU after its formal adoption by the Council and will enter into force together with the EU-Mercosur Interim Trade Agreement.

MTI