European Market Infrastructure Regulation (EMIR) is a major new piece of legislation that will come into force on 2 October 2016. EMIR will promote open and competitive markets for goods and create a level playing field for all market participants. The goal is to make competitive markets the norm in Europe, which will result in the creation of new markets for European companies, both big and small.In June 2017, the European Commission (EC) published a Regulation, named EMIR, that aims to protect European consumers from unsafe food by promoting the quality of food produced in Europe. EMIR will not make any difference on the US market, but since the US is considered a major global market, its impact on the US is expected to be substantial.EMIR is an international agreement designed to regulate the flow of goods across borders in the EU, Middle East and North Africa. Although EMIR will primarily affect the €10 billion import trade between the EU and its major trading partners, it may also affect the €5 billion export trade that EU members make with other countries. This means increases in import prices and complications to other trade flows such as those related to customs, quarantine and sanitary laws.
