Approved EU States Support the Planned US Tariff Deal

Source: dpa | Translated by AI 1 min Reading Time

Related Vendor

The trade agreement between the EU and the USA can soon be fully implemented. The EU countries have now given the green light for it in Luxembourg ...

Can be done! The EU states have voted and are evidently of the opinion that the planned US tariff deal should be implemented ...(Image:  F. Schneidler)
Can be done! The EU states have voted and are evidently of the opinion that the planned US tariff deal should be implemented ...
(Image: F. Schneidler)

The core of the US tariff deal is to abolish tariffs on US industrial goods and grant better market access to US seafood and agricultural products. However, a safety net is intended to ensure that the benefits only apply if the US fully implements its commitments under the agreement. The European Parliament and the states had agreed on this after lengthy negotiations. The approval of all EU countries came just over a week before the USA's Independence Day, which marks its 250th anniversary on July 4th, as US President Donald Trump had set the day as the deadline for the implementation of the trade agreement a few weeks ago. The rules will next be published in the EU's official journal and will take effect the following day.

This is Planned Within the Framework of the EU-US Tariff Deal:

Among other things, it is planned that the EU tariff concessions can be suspended again in the event of US violations of agreements, as promised. This could include renewed tariff increases. Additionally, the US is to reduce tariffs on washing machines and other products containing steel to a maximum of 15 percent by the end of the year. If this does not happen, the EU also plans to examine similar tariffs. Furthermore, a fixed expiration date is planned—namely December 31, 2029. By June 30, 2029, the EU Commission must also comprehensively evaluate the impact of the changes. It can then propose extending the tariff concessions. Background: The EU Commission, with the agreement which came into play last summer following threats from the US side, aims to avert a trade war. Since the EU and the US have comprehensive bilateral trade and investment relations, the United States ranks among the most important trading partners.

Subscribe to the newsletter now

Don't Miss out on Our Best Content

By clicking on „Subscribe to Newsletter“ I agree to the processing and use of my data according to the consent form (please expand for details) and accept the Terms of Use. For more information, please see our Privacy Policy. The consent declaration relates, among other things, to the sending of editorial newsletters by email and to data matching for marketing purposes with selected advertising partners (e.g., LinkedIn, Google, Meta)

Unfold for details of your consent