EU Moves Closer to Implementing US Trade Deal

The European Union has moved a step closer to implementing a trade agreement with the United States aimed at preventing further tariff increases by Washington.

The European Parliament and the Council of the EU have reached a provisional agreement on legislation that would remove import tariffs on US industrial goods and expand access to the European market for US agricultural and fishery products.

The measures form part of a framework agreement reached last July at the Turnberry golf resort in Scotland during negotiations with President Donald Trump. In return, the United States would keep tariffs on most European exports at 15%.

The compromise includes safeguards in case Washington fails to honor its commitments. The EU would be able to suspend the trade concessions, while the agreement would automatically expire at the end of 2029 unless member states renew it through new legislation.

Trump has repeatedly threatened to raise tariffs on European cars to as much as 25% if Brussels fails to meet the terms of the deal by 4 July.

A final vote in the European Parliament is expected in mid-June.

(reuters, mja)