Over the past week, the European Union has implemented significant measures affecting import fees and customs regulations. Here's a rundown of what changed:
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Enhanced Customs Controls on E-commerce Imports – The EU announced stricter customs checks on parcels from online retailers like Shein and Temu to combat the influx of non-compliant products. This initiative includes phasing out the exemption on customs duties for parcels under €150, making foreign suppliers liable for taxes. In 2024, over 4.6B low-value parcels entered the EU, predominantly from China.
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Proposal to Reduce Tariffs on U.S. Car Imports – To de-escalate potential trade tensions with the United States, the EU said it is prepared to lower tariffs on US car imports from the current 10% to a rate closer to the US tariff of 2.5%. This proposal also includes increased purchases of liquefied natural gas and military equipment from the US.
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Consideration of Exemptions in Carbon Border Levy – The European Commission is evaluating the possibility of narrowing the scope of its Carbon Border Adjustment Mechanism to cover only the top 20% of companies responsible for the majority of emissions. This adjustment aims to reduce the regulatory burden on smaller enterprises while maintaining environmental commitments.
In regards to the 25% tariffs on steel and aluminum mentioned in story #1, the EU said today that it will not hesitate to retaliate. The bloc’s executive body said:
“The EU sees no justification for the imposition of tariffs on its exports. We will react to protect the interests of European businesses, workers and consumers from unjustified measures.”