As reported by the EU Council, MEPs and member states reached a provisional agreement on a draft regulation, according to which the EU will eliminate the remaining customs duties on imports of industrial products from the USA and introduce preferential market access for American seafood and non-sensitive agricultural products. For products such as dairy products, soybean oil, pork and bison meat, customs duties will be reduced or tariff quotas will be introduced. The concluded agreement, which will be officially confirmed by the EU Parliament and Council before it is implemented, among other things includes a safeguard mechanism that will allow the EU to respond to a possible significant increase in imports from the USA that could seriously harm domestic producers.
The European Commission will be able to act at the request of three member states, European industry or unions, or on its own.
Topics: #products #agreement #customs
