- The European Union is proposing new rules that would allow individual member states to ban the sale of GMO crops for non-scientific reasons.
- U.S. biotech giants such as Monsanto (NYSE:MON), European farm groups, and the U.S. government are all strongly opposed; the U.S. fears the plan could wreak havoc on agricultural exports to Europe and set a precedent of erecting trade barriers for non-scientific reasons.
- The EU’s trading partners also warn that the proposal could breach international trade rules enforced by the WTO.
- The EU is sharply divided on the issue of biotech crops; some nations, such as the Netherlands, the U.K. and Spain support the technology, while France, Austria and others are opposed.