EU reaches provisional tariff agreement with the US

Washington (ANTARA) – EU institutions on Tuesday evening (19 May) reached a provisional agreement on two regulations designed to implement tariff-related components of the EU–US Joint Statement of 21 August 2025. The deal marks a significant step toward formalising parts of the transatlantic trade package and strengthening economic ties between the two partners. The agreement, reached between the Council Presidency and the European Parliament, aims to ensure a more stable and predictable trade relationship between the European Union and the United States while embedding protections that enable the EU to respond if its economic interests are threatened. The Greek Cypriot administration’s Minister of Energy, Trade and Industry, Michael Damianos, said the agreement underscores the EU’s role as a reliable trading partner. “Maintaining a stable, predictable, and balanced transatlantic partnership is in the interest of both sides. Today, the EU is delivering on its commitments,” Damianos said in a statement. The first regulation would remove remaining duties on US industrial goods and expand preferential access for certain American exports, including tariff quotas and tariff reductions for certain seafood products and non-sensitive agricultural goods, according to the statement. The second regulation would extend the duty moratorium on lobster imports, including processed lobster. The provisional agreement still requires formal ratification by the Council and European Parliament after legal and technical finalisation. Once adopted, the regulations will come into effect the day after publication in the Official Journal. The lobster-related measure will apply retroactively from 1 August 2025.