The European Union and the United States have finalized a long-awaited tariff deal, with the European Parliament granting final approval to cut tariffs on many US imports. The move brings the agreement close to implementation and seeks to close a volatile chapter of transatlantic trade relations despite ongoing tensions.
The approval ensures the bloc remains on track to meet a July 4 deadline set by President Trump. By complying with the terms of the deal, the EU aims to defuse threats of new tariffs on European vehicles.
The agreement, which was clinched in July of last year, removes EU tariffs on US industrial goods. In return, the bloc accepts a 15 percent levy on most of its own products exported to the United States.