EU to Implement Trade Deal With US in July

The European Union will begin implementing its side of the trade agreement with the United States on 1 July, eliminating import duties on a range of US products, according to an official EU regulation.

The measures will remain in force until 31 December 2029. The European Commission said it could propose extending them if necessary, accompanied by a comprehensive assessment.

Under the agreement, the EU will eliminate tariffs on US industrial goods and grant preferential market access to selected American agricultural products. The package also extends duty-free imports of US lobsters, building on a partial trade agreement reached during President Donald Trump's first term.

The legislation includes safeguard mechanisms allowing the EU to suspend the trade concessions if the United States breaches the terms of the agreement.

(reuters, bak)