EU Council Adopts Position on Regulations to Enact US Trade Deal

The European Council adopts its negotiating mandates on two regulations aimed at implementing the tariff-related aspects of the EU-US Joint Statement on trade, according to a statement.

• First regulation “eliminates remaining customs duties on US industrial goods and grants preferential market access including via tariff rate quotas (TRQs) and reduced tariffs for certain US seafood and non-sensitive agricultural products”
  • Council introduces amendments to “strengthen the economic oversight and protection of sensitive EU sectors”
  • Calls on EU Commission to monitor economic effects of the measures and submit report by December 31, 2028
  • Includes bilateral safeguard mechanism to address increases in ...