The European Parliament has approved two legislative acts putting into effect the EU’s tariff commitments under the 2025 agreement with the United States.
The new rules provide for the removal of duties on US industrial products and preferential access for selected agricultural goods and seafood. They also extend duty-free imports of lobster.
At the same time, the legislation includes safeguards aimed at protecting the European economy. These include a sunset clause under which the measures expire in 2029, as well as the possibility of suspending concessions if the United States maintains high tariffs on steel and aluminium products.
A separate safeguard mechanism is also included to protect EU industry and agriculture if increased imports cause, or threaten to cause, economic harm.
The European Commission will closely monitor implementation of the agreement and submit regular reports on its impact.
The legislation will enter into force once it receives final approval from the Council of the EU.
Source: AMNA
