US no-hormone beef concession
BRUSSELS is planning to increase market access for US hormone-free beef as compensation for banning the hormone-treated product.
Currently, the US retaliates for the ban by imposing import duties worth $117m (£70m) on a range of EU food products.
But according to news agency reports, Brussels believes the US is now prepared to consider compensation in the form of improved market access, as an alternative to trade sanctions, and is drawing up proposals.
This was confirmed by a source at the US trade mission in Brussels, who said Washington was now "receptive" to the idea, so long as it was targeted at beef producers. Until now, Brussels has only considered increased market access for non-beef products.
The US is currently allowed to ship 11,500t a year under the scheme at reduced tariff levels, though even now it fails to fill this quota.