EU agrees to implement US trade deal struck last summer
The European Union has officially agreed to implement a limited trade agreement with the United States, a deal initially struck in August 2020 under the Trump administration. Following over five hours of contentious discussions between Members of the European Parliament (MEPs) and EU member states, the agreement can now formally enter into force. This breakthrough follows previous delays in the ratification process, largely due to MEPs' protests against former President Donald Trump's broader threats of imposing higher tariffs on EU goods and the diplomatic strain caused by his controversial "Greenland threats." The implemented "mini-deal" specifically targets the removal of import duties on several key product categories, most notably EU tariffs on U.S. live and frozen lobsters, in exchange for U.S. tariff reductions on certain European goods like prepared meals and glassware.
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