The European Parliament adopted by 638 votes to 45, with 11 abstentions, a legislative resolution on the proposal for a Regulation of the European Parliament and of the Council on the elimination of customs duties on certain products.
Parliament adopted its position at first reading under the ordinary legislative procedure, taking over the Commission proposal.
The EU and the US have the largest and most deeply rooted bilateral trade and investment relationship in the world. Bilateral trade in goods and services between them amounts to more than EUR 1 trillion a year, or about EUR 3 billion a day.
The proposed regulation aims to eliminate a number of tariffs on lobsters and crawfish. The elimination of these duties would be subject to two conditions:
- the effective reduction by the US of custom duties for a number of products (certain prepared dishes, certain crystalware, coatings, propellant powders, cigarette lighters and parts of lighters) and;
- the US refraining from introducing new measures against the EU that undermine the objectives of the Joint Statement of 21 August 2020, in which Commissioner Hogan and US Trade Representative Lighthizer announced a package of tariff reductions meant to mark just the beginning of a process that will lead to additional agreements that create more free, fair, and reciprocal transatlantic trade.
The elimination of customs duties should apply from the same date as the effective implementation of the announcement of the United States regarding the reduction of its customs duties on a selected number of goods, namely from 1 August 2020.
The Commission would have implementing powers to temporarily suspend the application of the regulation if the conditions set out in it were not met.