U.S. and European Union negotiators have concluded a new agreement that replaces the margin of preference (MOP) trade concession that the EU provided to the U.S. in the Uruguay Round of the old General Agreement on Tariffs and Trade.
The new bilateral pact preserves access for U.S. brown rice into the European Union member countries and avoids U.S. retaliation against the EU for failing to honor its obligations, USA Rice Federation leaders said.