European Union institutions have reached a provisional agreement on two regulations designed to implement the tariff-related elements of the EU-US Joint Statement of 21 August 2025, marking a key step toward formalising parts of the transatlantic trade package and reinforcing economic ties between the two partners.
The deal, struck between the Council Presidency and the European Parliament, aims to ensure a more stable and predictable trade relationship between the EU and the US while embedding safeguards that allow the EU to respond if its economic interests are threatened.
The first regulation removes remaining customs duties on US industrial goods and expands preferential access for selected American exports, including through tariff rate quotas and reduced tariffs on certain seafood products and non-sensitive agricultural goods, according to the statement.
A second regulation extends the suspension of duties on lobster imports, including processed lobster.