EU Parliament committee backs removing duties on US goods

Created at 2 Jun · 07:56 UTC13 sources↑ Market-relevant6 events

IN SHORT

The European Parliament's trade committee voted to remove EU import duties on many US goods to comply with a trade deal and avert tariff conflict. The full assembly is expected to vote in mid-June.

Key Numbers

31 for, six against and three abstentioncommittee vote count

15%US tariffs on EU goods

$2 trillionannual exchange of goods and services between EU and US

$200 billionEU goods trade deficit with the US

July 4deadline for EU commitments

end of 2029deal termination date unless renewed

Who's Involved

EU Parliament's Trade Committee

voted to remove EU import duties on many US goods

European Parliament

full assembly to vote on trade deal legislation

Donald Trump

US President who agreed to the trade deal and threatened higher tariffs

EU Parliament committee backs removing duties on US goods

Key facts

EU Parliament's Trade Committee voted to remove EU import duties on many US goods.
The move aims to comply with a trade deal agreed with the United States.
The legislation seeks to avert the return of transatlantic tariff conflict.
The full EU assembly is expected to vote on the legislation in mid-June.

The European Union and the United States have been engaged in trade negotiations, with a recent agreement aiming to de-escalate tariff conflicts. This committee vote is a crucial step towards formalizing that agreement, demonstrating the EU's commitment to resolving trade disputes through negotiation and compliance with agreed terms. The deal was struck last July, with the EU agreeing to remove import duties on U.S. industrial goods and grant preferential access to U.S. farm and seafood produce.

EU Parliament committee backs removing duties on US goods

PiQ Daily

Key facts

EU Parliament committee backs removing duties on US goods

PiQ Daily

Key facts

Get the newsletter.