#EU #USA #Brussels #Trade
The EU states have given the green light for the so-called Hummer deal with the USA. "As a step to improve transatlantic trade relations, the EU will abolish tariffs on lobster imports," said the Council of Member States.
The EU states have given the green light for the so-called Hummer deal with the USA. "As a step to improve transatlantic trade relations, the EU will abolish tariffs on lobster imports," said the Council of Member States.
In return, US surcharges on EU products such as ready meals, crystal glass and lighters will decrease. The agreement, which the Council calls a "mini tariff package", is "the first tariff reduction between the EU and the US in two decades".
According to the EU Council, EU exports, which are now cheaper to export to the USA, are worth around 160 million US dollars per year. Future duty-free US imports of "live and frozen lobster products" amount to $ 111 million.
Under Donald Trump as President, the EU's trade relations with the USA had deteriorated massively.
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