EU paves way to finalise US trade deal and avoid Trump tariff hike
The pact adds safeguards for EU industries and gives Washington until year-end to cut steel surtaxes above 15% or face EU retaliation.
- On Wednesday, the European Union reached a provisional agreement to remove import duties on U.S. goods, aiming to meet President Donald Trump's July 4 deadline and avert higher tariffs on European products.
- Negotiations faced repeated delays over the past year due to tariff uncertainty, U.S. Supreme Court rulings striking down Trump's global tariffs, and geopolitical tensions surrounding Trump's proposed acquisition of Greenland.
- The agreement imposes a 15% U.S. tariff on most EU exports while including a "sunset clause" to end concessions in 2029 and a suspension mechanism if Washington breaches the terms.
- Cyprus's Energy, Commerce and Industry Minister Michael Damianos said, "Today, the European Union delivers on its commitments," emphasizing the importance of maintaining a stable transatlantic partnership.
- Ratification remains pending in the European Parliament and among member states, with officials expecting approval within weeks to finalize the framework protecting nearly $1.7 trillion in annual bilateral trade.
172 Articles
172 Articles
DECRYPTAGE - Ten months after the signing of the agreement with Washington, the White House was impatient and had set an ultimatum in Brussels. MEPs and Member States found a compromise on its transposition.
The European Union has reached a provisional compromise to implement last year's trade agreement with the United States.
The European Parliament, the Member States and the Commission reached a compromise on the night of Tuesday to Wednesday, which still needs to be formally approved. To be seen: how the United States will react to it. ...
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European Union Approves Trade Framework With U.S. as Trump’s July 4 Tariff Deadline Approaches
European officials finalized a provisional agreement advancing tariff reductions on American exports after President Donald Trump warned the bloc faced steep new duties if it ... The post European Union Approves Trade Framework With U.S. as Trump’s July 4 Tariff Deadline Approaches first appeared on [your]NEWS.
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