Historic agreement between the EU and the US to cut tariffs

The European Union and the US announced yesterday a trade agreement to reduce import duties to the Old Continent of lobsters and certain glassware, ceramics, lighters, surface treatment products and meals prepared in the opposite direction. Beyond being a very limited agreement, with a value of about 168 million euros, they are the first tariff reductions negotiated between the two in more than two decades and a sign that they actively negotiate and can reach commercial deals after the shocks by the subsidies to Airbus and Boeing, the tariffs on European steel and aluminum and the threats of more tariffs within the community if rates are approved for technology companies. Added to this is the fact that last year the US imposed tariffs of 6.4 billion euros - 7.5 billion dollars - on products such as Scotch whiskey, French wine or cheese after a ruling by the World Trade Organization (WTO) for subsidies to Airbus. "We hope this marks the beginning of a process that will lead to new ...