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.
Houthi attacks target Riyadh amid concerns over Saudi oil supplies, as Iran says it will not reopen the Strait of Hormuz until its conditions are m...
German voters cast ballots on Sunday in two state elections that could add to the political pressure on Chancellor Friedrich Merz, as his governmen...
Iraq has returned restricted airspace across the western part of the country to civilian authorities, ending limits imposed for military operations...
Iran's Revolutionary Guards Navy said a Togo-flagged oil tanker was struck while attempting to make an “illegal passage” through the Strait of Hormuz, Iranian state media said early on Friday.
Saudi civil defence sent an all-clear on Saturday after issuing alerts for a second time for potential danger in Riyadh and the city of Al-Kharj east of the capital, amid an uptick in attacks by Iran-aligned Houthis on the Gulf country.
The European Union will disburse €3.3 billion ($3.8 billion) to Ukraine for missiles and drones, European Commission President Ursula von der Leyen said after a phone call with Ukrainian President Volodymyr Zelenskyy.
The U.S. State Department approved a $2.7 billion military sale to Ukraine for air-defence development upgrades, along with related equipment and services, the department said. Meanwhile, Ukrainian authorities reported at least 10 people had died in Russian attacks over the last 24 hours.
Houthi attacks target Riyadh amid concerns over Saudi oil supplies, as Iran says it will not reopen the Strait of Hormuz until its conditions are met and U.S. commitments are implemented, parliament speaker Mohammad Bagher Ghalibaf said on Sunday.
German voters cast ballots on Sunday in two state elections that could add to the political pressure on Chancellor Friedrich Merz, as his government faces growing public frustration and a resurgent far right.
Iraq has returned restricted airspace across the western part of the country to civilian authorities, ending limits imposed for military operations against Islamic State since 2016, the Transport Ministry said.
Denmark and Greenland have moved to reassure the public that their sovereignty will remain intact under a new security agreement with the United States.
World leaders are set to gather at the United Nations General Assembly in New York for several days of high-level debate, with Iran, Ukraine, artificial intelligence (AI) and a range of global crises expected to dominate discussions this week.
Ed Sheeran has broken his silence on the controversy surrounding his U.S. tour, apologising for decisions made after rapper Macklemore was removed from the line-up over his public support for Palestine.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment