The Integrated Tariff is also available to help determine if a license is required for a particular product. The European Commission maintains a link to the Access2Markets portal (which replaces the EU Trade Helpdesk) where information can be found using Harmonized Systems codes to determine, among other information, potential requirements, tariffs, the European Union’s markets import rules, and taxes. The Access2Markets portal does not provide information for exports from the United States to the European Union, however. (Using information for a similar North American country, such as exports from Canada, approximates key requirements that may be used as a starting point for the most current Harmonized Systems code.) For information about Member State import licenses, please consult the relevant Country Commercial Guide.
Fit for 55 Package
In July 2021, the European Commission proposed its Fit for 55 Package, a set of policy proposals impacting climate, energy, land use, transportation, and taxation. The legislative package is aimed at helping to reduce net greenhouse gas emissions by 55% by 2030, compared to 1990 levels, and achieving climate neutrality by 2050. It envisages a comprehensive transformation across all parts of the economy and will affect various sectors along the entire value chain, covering a wide range of goods and services, domestic and imported – sold in the EU. It requires a careful, technical, and detailed review to assess the impact on U.S. exports and commercial interests.
Within its thirteen proposals, the Fit for 55 Package includes:
- Amendment to the Renewable Energy Directive to implement the ambition of the new 2030 climate target: raise the renewable energy target to 40% of the EU’s final energy consumption by 2030, with specific targets for transportation, heating and cooling, buildings, and industry.
- Directive on Energy Efficiency: set more ambitious binding annual targets for cutting energy consumption at the EU level, almost doubling the annual energy saving obligation for Member States. CO2 emission standards for cars and vans will be implemented to cut emissions of new cars by 55% from 2030, and by 100% by 2035.
- Revision of the Energy Tax Directive: align energy product taxation with EU energy and climate policies, removing exemptions and reduced rates for the use of fossil fuels.
- Revision of Hydrogen and Decarbonized Gas Market package: shift from natural gas to renewable and low-carbon gases and boost their uptake in the EU by 2030 and beyond.
- Agreement on Sustainable Aviation Fuels: will accelerate the use of sustainable aviation fuels and force fuel suppliers to blend increased levels of such fuels with jet fuel.
- The EU Alternative Fuel Infrastructure Regulation: identify the electrification of transport as a key instrument in decarbonization. It sets mandatory deployment targets for electric recharging and hydrogen refueling infrastructure for the road sector, for shore-side electricity supply in maritime and inland waterway ports, and for electricity supply to stationary aircraft.
- Changes in Emissions Trading: reduce the CO2 emission cap under the EU Emissions Trading System and raise its annual rate of reduction, while phasing out free emission allowances for aviation.
- New Carbon Border Adjustment Mechanism: introduce a carbon price when certain products are imported to ensure that ambitious climate action in Europe does not lead to carbon leakage. The new Carbon Border Adjustment Mechanism (also known as CBAM) targets imports of products in carbon-intensive industries. It is designed to function in parallel with the EU’s emissions trading system as well as to mirror and complement its functioning on imported goods.
Most of the proposals have been adopted or are awaiting final adoption of the text agreed in trilogue negotiations, expected in fall 2023.