European Parliament approves legislative measures for EU-US trade deal

The European Parliament has approved two legislative acts to implement tariff commitments under the 2025 EU-US trade agreement. This framework, based on discussions between Donald Trump and Ursula von der Leyen, mandates the removal of tariffs on US industrial goods and preferential access for specific agricultural products and seafood. Notably, the agreement continues duty-free importation of lobster into the EU. Safeguard mechanisms include a sunset clause set for 2029 and provisions to suspend concessions if the US maintains high tariffs on European steel and aluminum. An additional safeguard mechanism protects EU industries if import volumes cause economic harm. While the EU moves toward implementation, reports indicate that the US continues to maintain tariffs of up to 15% on many European exports. Washington had exerted pressure by threatening further trade barriers if compliance was not reached by July 4. The European Commission will monitor implementation and provide regular reports. Final enactment requires subsequent approval by the Council of the EU.