Opening markets to our farmers is not just about one industry, but about a way of life. Generations of hard work, passion and dedication have made America by far the largest producer of high quality beef in the world. We are proud of our farmers and farmers. We love our farmers and farmers. And with this announcement, we`re taking it one step further to give them the same competitive conditions they have, about it – they`ve been really looking forward to it for many years. You know that. They want a level playing field. That is all they want. And no one can beat her. So I want to thank you all for being here.
Indeed, it can more than double the hormone-free exports of American farmers to the EU. This is a great day for American farmers. This is a great day for European consumers. Under the current agreement, U.S. duty-free exports to the EU amount to only about 13,000 tonnes per year, or about $150 million, and are likely to be reduced in the future. The European Commission today published a proposal for a Council and European Parliament regulation abolishing tariffs on certain imports into the EU. In return, the United States will reduce its tariffs on certain EU exports to the U.S. market. The agreement announced by the EU and the United States will enter into force on 21 August 2020. These tariff reductions between the EU and the US will increase access to EU and US markets by around `200 million euros per year` Finding a way to revise the Schengen border code: participants discussed opportunities to improve the current Schengen rules with the common aim of overcoming existing internal border controls and ensuring that any possible reintroduction of internal border controls is proportionate in the future, as a last resort and for a limited period.
Through this agreement, the EU reaffirms its commitment to a positive transatlantic trade programme and a new phase in EU-US relations. And we are working on many other things: strengthening the WTO, negotiating regulatory issues, including standards. Mr President, I mention the standards because it is a strong point for us because trade is not only about money, but also about values. The aim is to ensure that high standards are used and respected to combat unfair competition.