The European Parliament has finally approved a trade deal with the United States, signed last year between the European Union and Donald Trump, in an effort to ease transatlantic relations after months of tension.
The approval, which took place on Tuesday, June 16, by deputies in Strasbourg, aims to eliminate customs duties imposed by the EU on most industrial and agricultural products from the US. This is in exchange for a 15% limit on taxes introduced by the American president on European imports.
Despite the approval, European lawmakers acknowledged that the agreement reached by Brussels was too unbalanced. They were able to add several conditions to its implementation, seeking to protect European interests from Donald Trump.
Conditions to Protect European Interests
Lawmakers expressed disappointment over the repeated crises with the American president since his return to the White House. These include threats to annex Greenland, ongoing attacks on European digital and environmental regulations, sanctions against former Commissioner Thierry Breton, and punitive taxes on cars and steel.
Donald Trump continues to threaten customs duties, attempting to force the EU to concede. Before arriving at the G7 summit in Évian, he renewed threats to impose excessive taxes on champagne and other French wines if Paris does not abandon its tax on digital services.
Mechanisms to Suspend the Agreement
In a May compromise reached with member states, European lawmakers managed to include a sunset clause that provides for the automatic expiration of the trade agreement at the end of 2029. This will occur after the end of Donald Trump‘s term, although the agreement can be extended if a vote takes place before then.
The European Commission can also suspend the customs package if Donald Trump does not cancel 50% of the additional duties he imposed on hundreds of products containing steel and aluminum by the end of the year.
According to Libération