BRUSSELS — The European Union’s side of a trade agreement reached with the United States will officially take effect on July 1, according to a formal regulatory filing from the EU.
The filing confirms that the new regulations will be in effect from July 1 through December 31, 2029. The document also noted that the European Commission may propose extending the agreement beyond that date if warranted.
As the filing stated, “Where appropriate, the Commission shall submit together with the comprehensive assessment a legislative proposal to extend the period of application of this Regulation.”
As part of the agreement, the EU committed to dropping import duties on U.S. industrial goods and offering preferential market access for American farm products. The deal also extends duty-free treatment of U.S. lobster imports — an arrangement that was originally negotiated during Trump’s first term in office.
The EU legislation includes built-in protections that would allow the bloc to pull back its concessions if the United States fails to hold up its end of the agreement. Those safeguards remain active throughout the deal’s lifespan, which runs through the close of 2029.
