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No U.S. Mini Trade Deals in Pipe After Lobster Pact: EU’s Dombrovskis

FILE PHOTO: Executive Vice-President of the European Commission for An Economy that Works for People, Valdis Dombrovskis, looks on as he gives a statement during the second day of the Informal Meeting of EU Ministers for Economics and Financial Affairs in Berlin, Germany September 12, 2020. Odd Andersen/Pool via REUTERS

BRUSSELS (Reuters) – A “mini-deal” struck last month to remove EU tariffs on U.S. lobsters is unlikely to be followed swiftly by similar accords, given transatlantic differences over agriculture, EU Vice President Valdis Dombrovskis said on Monday.

The U.S-EU deal covers products including U.S. lobsters and EU glassware and ceramics valued at $200 million of annual trade, a tiny fraction of the 616 billion euros (568.32 billion pounds)of transatlantic goods trade in 2019.

Dombrovskis, who is set to take charge of trade at the EU executive, said the deal, the first tariff reductions of this type in more than two decades, was small in economic terms, but big politically. Read more…..

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European Union Trade Commissioner Delegate Valdis Dombrovskis discusses EU trade relations with the United States and China and concerns about the U.K.’s Brexit stance. He speaks on “Bloomberg Markets: European Close.”

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