EU Council approves new trade regulations with the United States

On June 25, 2026, the Council of the European Union finalized the legislative process by adopting two regulations to implement commitments from the August 21, 2025, EU-US Joint Statement. These regulations abolish remaining EU customs duties on American industrial goods. Additionally, the measures grant preferential access to the European market for specific American fishery and non-sensitive agricultural products through tariff quotas and reduced duty rates. The agreement also includes an extension of the suspension of duties on lobster imports from all countries. Cyprus Minister of Energy, Commerce and Industry Michalis Damianou stated that while the EU remains committed to a strong transatlantic partnership, the new regulations incorporate enhanced safeguard and suspension mechanisms. These mechanisms allow the European Commission to intervene if commitments are not met or if EU economic interests are harmed. The policy is intended to maintain stable trade flows while protecting European economic interests.