With this agreement, the EU eliminates customs duties on all US industrial products and grants preferential market access for a wide range of US fish and agricultural products including nuts, dairy products, fresh and processed fruit and vegetables, processed foods, seeds, soybean oil, pork and bison meat, as well as lobster both fresh and processed.
In parallel, the regulations introduce strong safeguards to protect the European industry. A system of constant monitoring of trade flows will be in place, allowing rapid intervention in the event of sudden and damaging increases in US exports. In specific circumstances, the EU will also be able to suspend tariff concessions in whole or in part, thus enhancing its ability to respond to any imbalances. The new market access regimes will remain in force until the end of 2029 with the possibility of extension…
