The European Parliament supported the EU's agreement with the US to abolish lobster tariffs

The European Parliament supported the EU's agreement with the US to abolish lobster tariffs

The European Parliament approved a trade agreement with the United States of America, which includes the abolition of customs duties on imports of American lobsters. In practice, this means that the "European 27" will abolish the 8 percent duty on American lobsters for the next five years and will work to make this situation permanent. In 2017, lobsters were imported from the US into the EU for about $ 111 million, but later their exports to Europe weakened due to growing tensions in trade relations between Brussels and Washington. In addition, the EU-Canada trade agreement has favored Canadian lobsters. At the same time, the US has agreed to halve tariffs on imports from the EU of about $ 160 million a year, including some food, crystal glass and cigarette lighters. The agreed tariff reduction will take effect retroactively from 1 August.