THE U.S AND EUROPEAN UNION HAVE AGREED ON THEIR FIRST EVER TARIFF REDUCTION DEAL

Highlights –

• The U.S and European Union have agreed on their first ever tariff reduction deal.
• EU has agreed to eliminate tariffs on US lobsters.
• The U.S in exchange has agreed to halve import taxes on $160 million worth European goods.
• Last year, the EU had rejected a request by the US for a deal on lobsters.

After two decades, the European Union and ....