The US is reportedly seeking at least US$1.8bn in compensation for loss of exports over the last six years caused by the EU’s ban on genetically modified crops.
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The compensation claim was included in papers filed to the World Trade Organisation outlining the US’ challenge against the EU’s biotech policy, reported the Guardian.
The US has accused the EU of imposing a moratorium on GM products in 1998 without scientific evidence and against WTO trade rules, the newspaper said.
Last year the US launched proceedings at the WTO against the EU’s moratorium on GM products. The US has claimed the EU’s biotech policy has led to the US losing $300m per year in lost maize exports.
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