EU Lawmakers Clear US Trade Deal for Final Approval

EU lawmakers have cleared a US trade deal for final approval, paving the way for ratification before President Donald Trump’s threatened deadline to impose new tariffs. The European Parliament’s trade committee greenlit the agreement on June 2, with the full European Parliament scheduled to vote on ratification on June 16.

The deal would see the EU eliminate tariffs on US industrial goods in exchange for a 15% tariff ceiling on its exports. Trump has vowed to hit the bloc with new levies if it doesn’t approve the agreement by July 4.

The EU is under a tight deadline to implement the transatlantic trade pact, with the deal initially reached last summer. The agreement has been delayed twice due to Trump’s threats on Greenland and a US court ruling invalidating the president’s global tariffs.

The EU’s final text slightly amends the original pact, imposing an expiration date at the end of 2029 and allowing the bloc to suspend the pact if tariffs on products with steel and aluminum exceed 15% after 2026. EU member states are expected to give their final assent shortly after the European Parliament’s vote.