The European Parliament just gave the green light to a trade deal with the United States that, not long ago, seemed unlikely to exist at all. The vote passed 440 to 151, with 50 abstentions, formally approving legislation designed to pull both economies back from the brink of a full-blown tariff war.
What’s actually in the deal
The agreement caps US tariffs on most EU exports at 15%. That’s the headline number, but there are carve-outs for sectors like aircraft and pharmaceuticals, which operate under different terms.
In return, the EU agreed to eliminate duties on US industrial goods. It will also provide preferential access for certain American agricultural and seafood products, including maintaining zero duties on US lobsters.
The deal also includes EU commitments reaching hundreds of billions in investment and energy purchases from the US.
