The Canada-European Union Comprehensive Economic and Trade Agreement (CETA), signed by the two countries in 2016 and ratified by the European Union in February, could threaten American lobster exports to the EU, reports Business View Canada.

The agreement clears trade tariffs between the two markets, while US exporters will have to continue to pay 8 percent for shipments of live lobster, and 20 percent for processed or cooked lobster.

In 2016, the EU imported over CAD 140 million (€92.7