Emilian Robert Vicol
“These suggestions mark the initial steps toward execution and allow for the decrease of US tariffs on the essential EU automotive industry retroactively from 1 August,” the EC stated. The Commission believes that these measures help to reestablish stability and predictability in the trade and investment ties between the EU and US, benefiting businesses, workers, and citizens on both sides of the Atlantic.
The first suggestion is to eliminate customs duties on American industrial goods and offer preferential market access for various US seafood and non-sensitive agricultural products for the EU market.
Another suggestion would broaden the duty-free system for processed lobsters.
“The Commission will maintain its dialogue with the US to lower tariffs, particularly regarding the talks on a future EU-US deal for reciprocal, equitable, and balanced trade,” the EC stated.
The proposals must now be approved by the Council of the EU and the European Parliament through the established legislative process before the EU tariff reductions can be implemented.
source: reuters.com
The first suggestion is to eliminate customs duties on American industrial goods and offer preferential market access for various US seafood and non-sensitive agricultural products for the EU market.
Another suggestion would broaden the duty-free system for processed lobsters.
“The Commission will maintain its dialogue with the US to lower tariffs, particularly regarding the talks on a future EU-US deal for reciprocal, equitable, and balanced trade,” the EC stated.
The proposals must now be approved by the Council of the EU and the European Parliament through the established legislative process before the EU tariff reductions can be implemented.
source: reuters.com