The European Commission has immediately imposed an import duty on maize, rye and sorghum. The levy is €5,16 per tonne and also applies to freight already en route to the European Union.
The measure was introduced as a result of falling prices. Thanks in part to the euro-dollar exchange rate, grain prices have hit a free fall† Brussels wants, through the establishment of the import duty, drive up prices and protect the internal market.
In addition, the European Commission wants to promote trade between the Member States of the European Union.
WTO agreements
The imposition of an import duty on maize is rare. The last time this happened was 3 years ago. Brussels has the option of introducing this measure when the import of certain products becomes too cheap. This may be the result of agreements within the WTO.
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