EU open to extending lobster deal in package on Trump tariffs, FT reports
The EU's current regulation eliminating customs duties for fresh and frozen lobsters from the U.S. expires on July 31. The lobster deal between the U.S. and EU was struck in 2020 during Trump's first term.
Bernd Lange, chair of the European parliament's trade committee, told the FT that the lobster trade was not very economically important, but led to de-escalation from Trump. '[The deal] is expiring at the end of July. I'm really in favour of extending it.'
The EU faces 25% U.S. import tariffs on its steel, aluminium and cars. It also faces tariffs of 10% for almost all other goods, a levy that could rise to 20% after Trump's 90-day pause expires on July 8.
The European Commission has proposed countermeasures on up to 95 billion euros ($107.60 billion) of U.S. imports if tariff negotiations with Washington fail.
The Commission has repeatedly said it would prefer a negotiated solution rather than tit-for-tat tariffs.
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