After nearly a year of fluctuating trade tensions, the European Union reached an agreement Wednesday to implement its side of a trade pact with the U.S., seen as a crucial step in de-escalating the tariff disputes sparked by President Donald Trump.
Hailing the "good news," German Chancellor Friedrich Merz said it showed the bloc was "delivering on its commitments" and bringing "security and stability" for European businesses – which faced a new Trump tariff threat unless the deal kicks in by July 4.
The 27-nation bloc struck an accord with Washington last July, setting levies on most European goods at 15%, but to Trump's frustration, it had yet to make good on its pledge to scrap levies on most U.S. imports in return.
Negotiators from the EU's parliament and capitals wrangled late into the night in Strasbourg, finally emerging long after midnight with news of an agreement to move forward.
"This means we will soon deliver on our part," EU chief Ursula von der Leyen said on social media, calling for the implementation process to be quickly finalized as Trump's deadline looms.
