The European Commission, the entity responsible for negotiating trade deals on behalf of the European Union, announced last week that they will now allow soybeans grown in the United States to be used for biofuel in the EU. This move came as part of a campaign to improve trade relations with the United States. The European Commission’s statement stipulates that the allowance of U.S. soybeans for use in biofuels will be valid until July 1, 2021, with a possible extension if the deal meets the sustainability criteria set by the EU in the future (2021-2030). This is not the first that the step the EU and U.S. have taken to boost trade in the last year. In July, the Trump administration agreed not to place a tariff on European Union car imports. At that time, the two economic powers were already discussing the issue of soybeans as part of […]