Overview

• The European Commission submitted two measures to implement the Aug. 21 EU–U.S. declaration, including eliminating EU duties on U.S. industrial goods and extending duty-free treatment to processed lobster.
• Brussels also proposes preferential access for selected non‑sensitive U.S. fish and agricultural products, with a safeguard allowing suspension if Washington fails to uphold the deal.
• Under the joint declaration, U.S. tariffs on European cars and components are capped at 15% retroactive to Aug. 1, with analysts estimating more than €500 million in monthly savings for EU auto exporters.
• The United States is reported to introduce zero or near‑zero duties from Sept. 1 on items such as cork, aircraft and parts, generic medicines and certain chemical precursors.
• European automakers welcome the certainty from lower U.S. auto duties, while farm groups warn of an imbalanced package and Italy seeks correction after reports of a 30% customs charge mistakenly applied to Parmigiano Reggiano and Grana Padano.