BRUSSELS, (Pakistan Point News - 25th Jun, 2026) The Council of the European Union today formally approved regulations implementing the tariff commitments set out in the joint statement issued by the European Union and the United States on 21st August 2025.
Under the new measures, the remaining customs duties on US industrial goods will be eliminated, while preferential market access will be granted to certain seafood products and non-sensitive agricultural goods through tariff-rate quotas and tariff reductions. The regulations also extend the suspension of customs duties on lobster imports, including processed lobster products.
The regulations further include enhanced safeguard mechanisms, enabling the European Commission to intervene swiftly in the event of significant import surges that could harm European producers. They also provide for the suspension of tariff preferences should the United States fail to honour its commitments or introduce discriminatory measures.
The Council Presidency said the move reflects the European Union's commitment to an open and balanced trade partnership with Washington, while preserving instruments to protect European economic interests.
The regulations are due to enter into force immediately upon their publication in the Official Journal of the European Union. The main measure will remain in effect until the end of 2029, with its impact to be reviewed before that date.
