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The European Union is considering extending a deal that grants U.S. lobsters duty-free access, aiming to ease trade tensions with Washington and potentially avoid further tariffs. According to the Financial Times, which cited two EU officials, the lobster agreement—originally reached in 2020 during former President Donald Trump’s term—is set to expire on July 31.
The deal, which eliminated EU customs duties on fresh and frozen American lobsters, was seen as a goodwill gesture to de-escalate broader trade disputes. Although the lobster trade is economically modest, EU officials believe it played a key role in reducing U.S. tariffs at the time.
Bernd Lange, chair of the European Parliament’s trade committee, supports the extension, stating that the deal helped ease tensions with the U.S. administration. However, the situation remains complex, as the EU still faces significant U.S. tariffs—25% on steel, aluminum, and automobiles, and 10% on most other goods. These levies could increase to 20% after a temporary 90-day pause on new U.S. tariffs ends on July 8.
In response, the European Commission has proposed countermeasures on up to €95 billion ($107.6 billion) worth of U.S. goods if ongoing negotiations fail. Despite the escalating rhetoric, the EU has consistently emphasized its preference for a negotiated resolution over retaliatory tariffs.
The European Commission has declined to publicly comment on the FT report and did not respond to Reuters’ request for comment outside business hours. As trade talks continue, the future of the U.S.-EU lobster agreement may serve as a bellwether for broader transatlantic economic cooperation.
