European Parliament approves US tariff deal

The European Parliament approved a tariff reduction agreement with the United States, paving the way for easing trade barriers on a wide range of American goods and reducing the risk of new tariffs across the Atlantic. With a majority vote of 440 in favor and 151 against, the approval included lowering tariffs on American industrial materials and granting preferential treatment to American agricultural products, in exchange for the United States imposing a 15% tariff on most European goods. The Parliament also approved extending the tariff exemption for American lobstermen, despite ongoing threats from Trump to impose high tariffs on French products such as wine. The United States remains obligated to reimpose the 15% tariffs on its imports from Europe, with European guarantees to respond to any violations of the agreement.

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