Joint Statement of the United States and the European Union on a Tariff Agreement

Author (Corporate)
Series Details STATEMENT/20/1512
Publication Date 21/08/2020
Content Type


Joint Statement published on 21 August 2020 by the European Union (EU) and the United States of America (USA) concerning an agreement related to a package of tariff reductions aimed at increasing market access for exports from both sides. These were the first bilateral negotiated reductions in duties in over two decades.

Further information:

Under this agreement, the EU is to eliminate tariffs on imports of US live and frozen lobster products on a Most Favored Nation (MFN) basis. Tariffs are to be eliminated for a period of five years and the European Commission agreed to promptly initiate procedures aimed at making the tariff changes permanent. The United States agreed to reduce by 50% its tariff rates on certain products exported by the European Union, including certain prepared meals, certain crystal glassware, surface preparations, propellant powders, cigarette lighters and lighter parts. This reduction is to be made on an MFN basis.

Source Link
Related Links
Commentary and Analysis
PIIE Blog: Trade and Investment Policy Watch, 26/08/2020: EU lobster deal may be too little too late for Maine

BBC News, 21/08/2020: US wins end of EU lobster tariffs in mini trade deal
The Irish Times, 21/08/2020: US and EU sign rare trade agreement to reduce tariffs on range of products
The Wall Street Journal, 21/08/2020: Europe Lifts Tariffs on U.S. Lobsters
SeafoodSource, 21/08/2020: EU drops tariffs on US lobster
Reuters, 21/08/2020: U.S. and EU hatch mini-deal to cut lobster, other tariffs
AP News, 21/08/2020: EU agrees to cut taxes on US lobsters in modest trade pact
Cyprus Mail, 22/08/2020: U.S. and EU hatch mini-deal to cut lobster, other tariffs
CNBC, 24/08/2020: Deal over American lobster helps to ease U.S.-EU trade tensions

Subject Categories
Subject Tags , ,
Countries / Regions
International Organisations