EU to Cancel All Tariffs on Goods Imported from the U.S.

The EU plans to abolish all tariffs on goods imported from the U.S. by the end of the week, according to Bloomberg agency.

In this regard, the European Union has expedited the passage of necessary legal acts, the publication reports.

On August 21, the U.S. and the EU concluded a framework trade agreement, which included a 15% tariff on most European goods, including cars, pharmaceuticals, semiconductors, and timber. In return, the EU promised to eliminate all tariffs on U.S. industrial products and grant preferential access to several seafood and agricultural goods.