The Council of the European Union has adopted two Regulations implementing the tariff commitments set out in the EU–US Joint Statement of 21 August 2025, thereby completing the relevant legislative process.
According to a Council press release, the adoption of the two legislative acts on 25 June confirms the European Union’s commitment to maintaining a stable, predictable and mutually beneficial transatlantic trade relationship, while at the same time preserving mechanisms to safeguard European economic interests.
In a statement cited in the press release, Cyprus' Minister of Energy, Commerce and Industry, Michael Damianos, said that the EU remains committed to a strong and open transatlantic partnership with its historic ally, but openness must go hand in hand with the protection of its interests. He added that these measures achieve both objectives by supporting stable and predictable trade flows with the United States, while ensuring that the EU can respond swiftly and proportionately whenever the agreement is not respected or when its interests are at stake. He further noted that the measures send a strong message that Europe is open to the world while remaining determined to protect its businesses and workers.
The main Regulation is set to expire at the end of 2029. By 30 June of that year, the European Commission will submit a comprehensive assessment of its impact on EU–US trade flows, tariff revenues and the wider economy, including its effects on small and medium-sized enterprises (SMEs). The assessment may be accompanied by a proposal to extend the application of the Regulation.
The second Regulation, concerning lobster imports, will apply retroactively from 1 August 2025 and will remain in force until 31 July 2030, unless further measures are adopted.
(Source: CNA)
