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EU Agrees on Tariff Rules Under US Trade Deal Framework
(MENAFN) European Union institutions reached a provisional agreement late Tuesday on legislation tied to tariff provisions in the EU-US Joint Statement signed on Aug. 21, 2025, according to reports.
The agreement, reached between the Council Presidency and the European Parliament, represents a major step toward putting parts of the broader transatlantic trade arrangement into effect while strengthening economic cooperation between the European Union and the United States.
According to the statement, the measures are intended to create a more predictable and stable trading environment between both sides, while also preserving mechanisms that would allow the EU to react if its economic interests come under threat.
Michael Damianos said the agreement demonstrates the EU’s reliability as a trade partner.
He stated:
"Maintaining a stable, predictable and balanced transatlantic partnership is in the interest of both sides. Today, the European Union delivers on its commitments,"
The first regulation included in the deal would eliminate remaining customs duties on US industrial products while broadening preferential access for selected American exports. This includes tariff-rate quotas as well as reduced tariffs on certain seafood products and agricultural goods considered non-sensitive.
A second regulation would continue the suspension of duties on lobster imports, including processed lobster products, according to reports.
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