Describes trade agreements this country is a party to. Includes resources where U.S. companies can get information on how to take advantage of these agreements.
For a list of trade agreements between the European Union and other countries in the world, as well as concise explanations of these agreements, please consult EU trade agreements.
On August 21, 2020, the United States and the EU announced a trade agreement regarding reductions on tariffs on certain products of interest to each side. The agreed tariff modifications went into effect in December 2020. Under the agreement, the EU eliminated tariffs on imports of certain live and frozen lobster products on a most-favored-nation (MFN) basis. EU tariffs will be eliminated for a period of five years, and the European Commission will initiate procedures aimed at making the tariff elimination permanent. The United States reduced by 50% its tariff rates on prepared meals, certain crystal glassware, surface preparations, propellant powders, cigarette lighters, and lighter parts. U.S. tariff reductions are also on an MFN basis.