Economy · World

EU-US Trade Agreement to Eliminate Tariffs with Safeguards

3 sourcesFirst reported 27 days agoUpdated 26 days ago

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EU member states approved the trade agreement with the US before July 4.
The agreement eliminates remaining EU tariffs on US industrial goods.
It includes preferential access for some US seafood and agricultural products.
A safeguard mechanism allows rapid action against import surges from the US.
The EU retains the right to suspend preferences if the US does not meet commitments.

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The Council of the European Union has approved two regulations that finalize the implementation of the EU-US trade agreement, paving the way for the elimination of remaining tariffs on goods. This decision was reached by the 27 member states and comes ahead of the anticipated enactment of the agreement before July 4, 2026. The regulations align with commitments outlined in the joint declaration issued on August 21, 2025.

The EU and the US maintain the largest bilateral trade and investment relationship globally, accounting for nearly 30% of the worldwide trade in goods and services, as well as 43% of global GDP. This trade agreement aims to strengthen these ties by reducing trade barriers, though it includes protective measures designed to safeguard the European market from potential adverse effects of tariff eliminations.

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EU-US Trade Agreement to Eliminate Tariffs with Safeguards

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