MEPs have inserted a series of safeguards into the EU-US trade tariff deal that will require Washington’s approval, as US urges the EU to sign it off.
Benjamin Fox
EU officials are under pressure from Washington to quickly sign off on a transatlantic trade tariff deal, despite MEPs adopting a series of amendments on Thursday to protect the EU if the Trump administration reneged on its promises.
As expected on Thursday (26 March), MEPs approved the two laws codifying the trade agreement struck by president Donald Trump and EU Commission chief Ursula von der Leyen in Scotland last summer, by hefty 417 to 154 and 437 to 144 margins respectively.
But they have inserted several amendments that would require Washington’s approval.
Chief among these is a new suspension clause would allow the commission to suspend the regime if the US were to impose additional tariffs exceeding the agreed 15 percent ceiling, or any new duties on EU goods.
The clause could also be used if Washington repeated its threats against individual countries or companies, as it did during Trump’s efforts to force Denmark to give up its sovereignty over Greenland.
Meanwhile, the regime will also depend on the US keeping its word to lower its tariffs on EU products with a steel and aluminium content below 50 percent, to a maximum of 15 percent.
The tariff deal will last until March 2028, with any extension depending on an “thorough impact assessment”.
For their part, US officials are urging the EU not to delay any further.
“This successful vote delivers on the stability and predictability for which American and European stakeholders have called, propelling economic growth and competitiveness for both our economies,” said Andrew Puzder, the US ambassador to the EU.
“We look forward to swift conclusion of discussions between EU negotiators to finalize this significant milestone in the US-EU trade relationship,” he added.
