EU and U.S. certified trusted traders will enjoy lower costs, simplified procedures and greater predictability in their transatlantic activities thanks to a mutual recognition agreement signed in Washington, D.C. today.
“Today’s agreement is a major step forward in the EU-U.S. trade relationship,” said EU Taxation and Customs Union Commissioner Algirdas Semeta. “At a time when businesses need all the support they can get, this will make life easier and cheaper for many transatlantic traders. It will also help to ensure that security checks on traded goods are more focused and effective, further improving the protection that customs provides for each and every citizen.”
The European Union and U.S. will recognize each other’s safe traders, thereby allowing these companies to benefit from faster controls and reduced administration for customs clearance. The agreement will also improve security on imports and exports, by enabling customs authorities to focus their attention on real risk areas.