The European Parliament gave its stamp of approval on June 16 to legislation implementing the EU’s side of a trade framework agreement with the United States. The vote wasn’t close: 440 in favor, 151 against.
The deal, rooted in a joint statement from August 21, 2025, effectively eliminates tariffs on nearly all US industrial goods entering the EU. In return, the US caps tariffs on most EU exports at 15%.
What the Turnberry agreement actually does
The framework, known as the Turnberry agreement, covers a trade relationship worth approximately €1.6 trillion annually.
The EU scraps duties on American industrial goods coming into the bloc. The US agrees to cap tariffs on EU exports at 15%, which sounds high until you remember the alternative was north of 25% on automobiles alone under previous Section 232 threats.
