EU ratifies tariff cuts on US imports under transatlantic trade agreement

The European Union Council formally approved two legal acts that eliminate tariffs on industrial goods from the United States and lower tariffs on selected agricultural products, implementing the EU‑US trade agreement reached last August. The measures include a safeguard mechanism allowing the European Commission to quickly respond if imports surge and risk harming EU producers, with the ability to re‑impose duties. Under the new rules, reduced tariffs will expire on 31 December 2029 unless the Commission proposes an extension after assessing impacts on industry, agriculture and SMEs.

Cyprus trade minister Michael Damianos, speaking on behalf of the EU presidency, said the EU remains committed to a strong transatlantic partnership while protecting its own businesses and workers. The agreement, originally negotiated between former US President Donald Trump and EU Commission President Ursula von der Leyen, also sets a 15 % tariff ceiling on most EU exports to the US, covering sectors such as automobiles, pharmaceuticals, semiconductors and timber.