BRUSSELS, June 30 (Reuters) - The European Union's side of a trade deal struck with the United States last year, which will remove import duties on many U.S. goods, will come into force on July 1, said a formal European Union regulatory filing.
• The EU said this regulation would apply from July 1 until December 31, 2029.
• "Where appropriate, the Commission shall submit together with the comprehensive assessment a legislative proposal to extend the period of application of this Regulation," added the regulatory filing.
• Under the agreement, the EU agreed to remove import duties on U.S. industrial goods and provide preferential access to U.S. farm produce. It will also extend duty-free imports of U.S. lobster, a mini-deal struck with Trump during his first term as president.
• The EU legislation expires at the end of 2029 and includes multiple safeguards that would allow the EU to suspend concessions if the United States breaches the trade deal's terms.
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