Luxembourg: European Union governments adopted on Thursday legislation to remove import duties on many U.S. goods, fulfilling the EU's side of a trade deal struck with U.S. President Donald Trump last year and avoiding renewed transatlantic trade conflict.Read more: Europe must be ready to replace key US weaponry 'soon': EU defence chiefThe European Parliament last week approved the legislation by 440 votes in favour to 151 against, with 50 abstentions, almost 11 months after the framework agreement was struck. Trump threatened 'much higher' tariffs unless the EU took action by July 4. After adoption by the Council, the grouping of EU governments, on Thursday the EU is on track to meet that deadline. The legislation will take effect after publication in the EU official journal.Under the agreement, the EU agreed to remove import duties on U.S. industrial goods and provide preferential access to U.S. farm produce. It will also extend duty-free imports of U.S. lobster, a mini-deal struck with Trump during his first term as president.Read more: EU moves to strengthen Europol against rising digital, cross-border crimeThe EU legislation expires at the end of 2029 and includes multiple safeguards that would allow the EU to suspend concessions if the United States breaches the trade deal's terms.
EU governments adopt legislation to fulfil EU side of US trade deal
European Union governments have greenlit legislation to eliminate import duties on numerous U.S. products, honouring a trade pact with President Trump and averting further trade disputes. This move, approved by the European Parliament, ensures the EU meets a July 4 deadline. The agreement grants U.S. industrial goods and farm produce preferential access, including duty-free lobster imports, with safeguards against U.S. breaches until 2029.
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