The European Parliament approved on Tuesday to cut tariffs on most US imports to meet those conditions European Unionside of the trade agreement was reached last year, avoiding a new round of tariff disputes between the world’s biggest trading partners.
President of the United States Donald Trump reached an agreement with the European Union at its Turnberry golf course in Scotland last July where the EU agreed to remove tariffs on US manufactured goods in exchange for a 15 percent tariff on most EU goods.
Almost 11 months later, the European Union has yet to implement the tariff cuts, prompting Trump to threaten “higher” tariffs unless the EU acts by July 4.
The EU has to meet that deadline after its parliament clears the final major legal hurdle. It also expanded duty-free imports of U.S. ropes, a small initiative struck by Trump in his first term as president.
“The treaty is a plan – and the EU is presenting its part,” the President of the European Commission Ursula von der Leyen he said on social networks.
EU countries are now expected to back it on June 26, the final step in a year-long ratification process.
