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Under the terms of the agreement, the U.S. would agree not to impose new so-called 'Carousel' sanctions which were due to come into force this week and would affect a range of EU products including Italian mineral water, Roquefort cheese and a number of other food products. The U.S. would maintain the currently reduced level of existing sanctions against EU products (68% or USD 79 million lower), and would eliminate all sanctions beginning in the fourth year of the agreement. In return, the agreement would provide additional duty-free access to the EU market for the type of high quality beef traditionally exported by the U.S. and produced from cattle that have not been treated with growth-promoting hormones. The agreement would provide additional duty-free access for 20,000 tons of beef in the first three years, increasing to 45,000 tons beginning in the fourth year. Before the end of the four-year period, the two sides will seek to agree on the conditions for the settlement applicable beyond that period.
http://europa.eu/rapid/pressReleasesAction.do?reference=IP/09/707&format=HTML&aged=0&language=EN&guiLanguage=ca
