EU agrees mini tariff package with US

Released 17 November 2020

The European Council (EC) has backed a mini tariff package of mutual concessions with the US and has agreed to scrap customs duties on imports of lobsters. In return, the US will reduce its duties on certain EU products exported to the US.

The package will translate into a reduction of US tariffs on EU exports worth some $160m a year, including prepared meals, crystal glassware, surface preparations, propellant powders, lighters and lighter parts. The US producers will benefit from the elimination of tariffs on imports of live and frozen lobster products. US exports of these products to the EU are worth some $111m.

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