European Union negotiators are expected to agree on Tuesday (19 May) on legislation removing import duties on U.S. industrial goods, in a move aimed at implementing last year’s trade agreement with the United States and avoiding higher tariffs threatened by U.S. President Donald Trump.
The deal, reached at Trump’s Turnberry golf resort in Scotland last July, would see the EU eliminate tariffs on U.S. industrial products and grant preferential access to American agricultural and seafood exports. In return, the United States would impose a 15% tariff on most EU goods.
Despite the agreement, its legal implementation has been delayed for nearly 10 months as the European Parliament and EU member states continue negotiations over safeguards and enforcement mechanisms.
EU lawmakers are now working to finalise a legislative text in talks expected to conclude late on Tuesday or early on Wednesday, with officials expressing confidence that an agreement can be reached in time to meet Washington’s deadline.
Trump has warned that failure to implement the agreement could trigger significantly higher tariffs on EU exports, including automobiles, with previous threats suggesting duties could rise to 25%.
He has set a 4 July deadline for the EU to comply with the agreement’s terms.
The main point of contention between EU institutions concerns how to ensure the United States adheres to its commitments under the deal.
Members of the European Parliament are pushing for stronger safeguards, including a “sunrise clause” that would delay EU tariff cuts until U.S. compliance is confirmed, a suspension mechanism in the event of violations, and a “sunset clause” ending concessions in 2028.
EU governments, however, have expressed concern that strict conditions could strain relations with Washington and create uncertainty for European businesses.
If an agreement is reached, the EU is expected to meet the 4 July deadline, with a final parliamentary vote anticipated in mid-June.
The outcome is seen as a key test of transatlantic trade stability at a time of heightened economic uncertainty and renewed tariff tensions between major global economies.
Demonstrators carrying Iranian flags and placards supporting the hijab gathered outside the Azerbaijani Embassy...
A Chinese-made AI chip has matched Nvidia’s H200 in tests conducted by its developer, marking a potential breakthrough in China’s effor...
China’s GJ-21 carrier-based stealth reconnaissance and strike drone has completed its first take-off and landing on board the Sichuan, the co...
The Middle East conflict remains tense as diplomatic efforts continue alongside renewed Houthi attacks. Iran says it remains open to mediation, while the Saudi-led coalition says it intercepted a ballistic missile fired towards the kingdom.
Rescuers searched the wreckage of two high-speed trains in central Spain on Thursday as the death toll rose to a provisional 74, making it the country's second fatal high-speed rail disaster this year.
Evacuations and the provision of humanitarian aid in the Russian-occupied southern Ukrainian town of Oleshky have begun, a senior Ukrainian official said on Friday. In a statement on Telegram, David Arakhamia said a six-day ceasefire was holding, and that more details would follow.
Qatari mediators returned to Tehran on Friday as part of efforts to reach a deal between the U.S. and Iran, according to an official briefed on the talks.
UN human rights experts comprising a group including Special Rapporteurs and independent experts who are part of the UN Human Rights Council, have criticised French authorities over their handling of nationwide student protests.
China’s GJ-21 carrier-based stealth reconnaissance and strike drone has completed its first take-off and landing on board the Sichuan, the country’s first Type 076 amphibious assault ship, state media reported on 30 October.
A powerful El Niño is driving extreme weather worldwide, leaving millions facing drought, wildfires and destructive storms as governments scramble to respond to the growing crisis.
A high-speed train involved in Wednesday's deadly collision in Spain was travelling at between 160 and 200 kilometres per hour, far above the 40 km/h safety limit, according to a preliminary investigation published on Friday.
Evacuations and the provision of humanitarian aid in the Russian-occupied southern Ukrainian town of Oleshky have begun, a senior Ukrainian official said on Friday. In a statement on Telegram, David Arakhamia said a six-day ceasefire was holding, and that more details would follow.
Hackers have pulled off a staggering $6.3 billion cryptocurrency heist targeting Binance, shaking confidence in one of the world's biggest digital asset exchanges and sending crypto prices tumbling. U.S. analysts suspect North Korea was behind the attack.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment