The European Parliament has backed legislation to implement an EU-US trade deal, following months of uncertainty over President Donald Trump's tariff threats. A majority of lawmakers voted in favor of the measures on Thursday, but added a series of safeguards to ensure the US honors its side of the deal struck last July.
The legislation would set tariffs at 15% for most EU goods - down from the 30% initially threatened - in exchange for European investment in the US and the removal of EU import duties on US industrial goods.
The vote comes after months of delay following Trump's threats to annex Greenland and a US Supreme Court ruling that found some of his tariffs unlawful. The EU assembly voted by 417 to 154, and 71 abstentions, in favor of the legislation.
The text will need to be signed off by all of the bloc's 27 member states before it is implemented, with a concluding vote expected in April or May. On Thursday, lawmakers moved to strengthen its safeguards, including a provision to suspend the agreement if the US imposes additional tariffs above 15% or introduces new duties on EU goods. Another would halt the deal if the US threatened the EU's territorial sovereignty.
MEPs also included a sunrise clause that means EU tariff reductions will only take effect if the US upholds its side of the bargain - including lowering tariffs to 15% on EU products that contain less than 50% steel and aluminium.
When the framework agreement was announced last summer, Trump said the 50% US tariff on global steel and aluminium would still apply to the EU. A sunset clause will see the agreement end by March 31, 2028.
European economy commissioner Valdis Dombrovskis expressed optimism after the vote, stating that at this stage, the US has reassured that they intend to honor the deal. While the EU continues to maintain constructive relationships, it remains vigilant regarding any risks to its interests.
EU trade commissioner Maros Sefcovic described the vote as a crucial step. The agreement, made during a meeting between European Commission President Ursula von der Leyen and Trump, was promoted as a significant achievement, with promises of increased EU investment in the US.
This deal comes as the EU seeks to solidify its trade relationships globally, having signed agreements with Australia and announced a landmark trade deal with India earlier this year. The US and the European Union are each other's largest trading partners, with substantial exchanges in goods and services, making the trade deal a vital factor in future economic relations.}
The legislation would set tariffs at 15% for most EU goods - down from the 30% initially threatened - in exchange for European investment in the US and the removal of EU import duties on US industrial goods.
The vote comes after months of delay following Trump's threats to annex Greenland and a US Supreme Court ruling that found some of his tariffs unlawful. The EU assembly voted by 417 to 154, and 71 abstentions, in favor of the legislation.
The text will need to be signed off by all of the bloc's 27 member states before it is implemented, with a concluding vote expected in April or May. On Thursday, lawmakers moved to strengthen its safeguards, including a provision to suspend the agreement if the US imposes additional tariffs above 15% or introduces new duties on EU goods. Another would halt the deal if the US threatened the EU's territorial sovereignty.
MEPs also included a sunrise clause that means EU tariff reductions will only take effect if the US upholds its side of the bargain - including lowering tariffs to 15% on EU products that contain less than 50% steel and aluminium.
When the framework agreement was announced last summer, Trump said the 50% US tariff on global steel and aluminium would still apply to the EU. A sunset clause will see the agreement end by March 31, 2028.
European economy commissioner Valdis Dombrovskis expressed optimism after the vote, stating that at this stage, the US has reassured that they intend to honor the deal. While the EU continues to maintain constructive relationships, it remains vigilant regarding any risks to its interests.
EU trade commissioner Maros Sefcovic described the vote as a crucial step. The agreement, made during a meeting between European Commission President Ursula von der Leyen and Trump, was promoted as a significant achievement, with promises of increased EU investment in the US.
This deal comes as the EU seeks to solidify its trade relationships globally, having signed agreements with Australia and announced a landmark trade deal with India earlier this year. The US and the European Union are each other's largest trading partners, with substantial exchanges in goods and services, making the trade deal a vital factor in future economic relations.}
