Contradictory approaches to the regulation of genetically modified (GM) foods could ignite a major trade war with the European Union and cost US farmers and food manufacturers billions of dollars in lost exports,according to a new report from the Pew Initiative on Food andBiotechnology, writes Lifesciencenz.com.
A proposal adopted this week by the European Parliament's Environment Committee will soon mean that food manufacturers will have to trace and label all GM ingredients in their food products.
This move could have serious economic ramifications forAmerican farmers who have adopted GM technology, writes the Pew Initiative, and could also lead to heated exchanges between the US and Europe.
The US accounts for the lion's share of GM crops grown worldwide. Although legislation was introduced into Congress last month to require the labelling of all products which contain GMingredients, current US laws do not require GM crops to be labelled ortraced because US regulators do not believe that GM crops pose anyunique risks over their conventional counterparts.
Michael Rodemeyer, executive director of the Initiative, said: "Strong European resistance to GM crops has already wiped out a $200 million market for US corn. Although the US and Europeangovernments share the same goal - the safe and environmentally responsible use of GM foods - their approaches to regulating these products could not be more different, in part reflecting different histories, political philosophies and cultures.
The question is whetherthe chasm across the Atlantic can be bridged before a serious trade clasherupts, which could not only cause major economic disruptions to Americanfarmers but could also have a ripple effect around the world as othercountries debate whether to follow the American or European regulatorymodel."
Future months will prove to be a crucial time for trade discussions between the US and Europe.