Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

Europe Waives Tax for Latvia

BRUSSELS -- The European Commission has agreed to cancel import tariffs on a range of farm produce from Latvia and grant the Baltic state a six-year tariff transition period in trade talks, the country's ambassador to the EU said.

Juris Kanels said that the talks, which took place Monday and are due to end with a deal on Jan. 1, were successful but had some way to go.

He had failed to persuade the Commission to change the pact's name to a free trade agreement from a trade and trade-related agreement.

Latvia is the third Baltic state after Estonia and Lithuania to negotiate such an agreement with the EU.

The two sides agreed that the EU would cancel tariffs on some agricultural goods, processed farm products, textiles and fisheries on Jan. 1.

Latvia will also benefit from a six-year transition period for dismantling its trade barriers.