EU Suspends Fertilizer Tariffs

The European Union>>> Council has agreed to suspend customs tariffs for one year on key nitrogen-based fertilizers, including urea and ammonia, to reduce costs for EU farmers and the fertilizer industry. This measure is estimated to save around 60 million euros in import duties. The initiative also aims to decrease the European Union>>>'s reliance on fertilizer products from Russia>>> and Belarus>>> due to the ongoing war in Ukraine>>> and Belarus>>>'s support for Russia>>>. The suspension will apply only to products not already entering the European Union>>> duty-free under preferential trade agreements and will be limited by a quota to balance the interests of EU producers. The International — European Commission>>> will monitor the market and may propose extensions or modifications. This decision follows the adoption of the Fertilizer Action Plan by the International — European Commission>>> to support farmers facing rising costs and scarcity, reinforce domestic production, and reduce import dependency, especially in light of disruptions like the near-total closure of the Strait of Hormuz>>>.