The European Union and United States announced a tariff reduction agreement

The European Union and United States announced a tariff reduction agreement regarding American lobster products and European crystal glassware, cigarette lighters, certain prepared meals, surface preparations, and propellant powders. The U.S. Trade Representative and EU Trade Commissioner indicated in a joint statement that the package marked “just the beginning of a process that will lead to additional agreements that create more free, fair, and reciprocal transatlantic trade.”

The Distilled Spirits Council of the United States issued a press statement expressing its hope that the agreement will lead to talks on returning to the 1994 zero-for-zero tariff agreement on spirits products.