The EU is known for its strict food standards.
As the British government prepares to leave the block, it has promised not to skimp on food rules, but some economists say that Britain’s exit could open up more options for American agriculture.
Frayne Olson, an ag economist with North Dakota State University Extension, states, “Long-term, I do think that has some potential. I think it will open some doors for some U.S. ag products into Britain first, but then potentially into the European Union later on. I am really hoping some of those tensions will also be thawing and we’ll get a better trade flow between the United States and other European countries.”
If Britain and the EU does not reach an agreement by the end of the year, the two will trade under the World Trade Organization rules. Many food businesses and farmers want a free trade agreement. They worry the generic WTO rules could create some challenges for some specialty items.