Proposal for a Regulation on the elimination of customs duties on certain products

Author (Corporate)
Series Details COM (2020) 496
Publication Date 08/09/2020
Content Type

Summary:

Legislative initiative tabled by the European Commission on 8 September 2020, introducing the elimination or reduction of tariffs for certain products in the framework of an agreement between the European Union (EU) and the United States (US).

Further information:

This proposal aims to implement a tariff agreement previously announced by the EU and USA in a Joint Statement. The deal comprises a package of tariff reductions aimed at increasing market access for exports from both sides and improving transatlantic trade relations.

In substance, the proposal lays out the elimination of a set of customs tariffs on lobster, while the US provides duty relief for a comparable economic value on products such as prepared meals, certain crystal glassware, surface preparations, propellant powders, cigarette lighters and lighter parts. The US requested the tariff reduction for lobster in light of its declining exports of the product to Europe and the world. The tariff reductions should be implemented in a fully WTO consistent manner and respect the most-favoured nation (MFN) principle.

The European Parliament's relevant committee adopted its position on 10 November 2020. The Council of the European adopted the proposed tariff package on 18 November.

Source Link https://eur-lex.europa.eu/legal-content/EN/ALL/?uri=COM:2020:496:FIN
Related Link(s)
News
Reuters, 11/11/2020: EU lawmakers back U.S. lobster deal after Biden election win https://uk.reuters.com/article/idUKKBN27R20Z

Official
European Commission: Press Release, 08/09/2020: Commission adopts proposal to make EU-U.S. agreement on tariffs effective https://ec.europa.eu/commission/presscorner/detail/en/ip_20_1572
European Parliament: Legislative Observatory: Procedure File for Proposal on Elimination of customs duties on certain products https://oeil.secure.europarl.europa.eu/oeil/popups/ficheprocedure.do?lang=en&reference=2020/0253(COD)
Council of the European Union: Press Release, 18/11/2020: The Council green-lights mini tariff package with the US https://www.consilium.europa.eu/en/press/press-releases/2020/11/18/the-council-green-lights-mini-tariff-package-with-the-us/

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