The European Parliament has approved a deal reached last year under which the EU agreed to remove import tariffs and make access to many types of American goods easier.
Ratifying the deal, which provides for a 15% tariff on imports of EU goods into the US, could avoid another round of tariff conflict between Brussels and Washington.
“Under considerable pressure, we achieved important guardrails to keep European interests on track,” said Bernd Lang, chairman of the European Parliament’s trade committee.
“One thing is certain: we will stick to it and keep a close eye on the implementation,” he said.
The German Association of the Automotive Industry (VDA) urged authorities to swiftly implement the measures.
“Reliable operating conditions are of the utmost importance for our companies,” VDA President Hildegard Mueller said in a statement to Reuters.
Work on the trade agreement was going on for a year
US President Donald Trump and European Commission President Ursula von der Leyen agreed to a deal in August last year.
The US was to limit tariffs on most EU products to 15%, and in return the EU would eliminate tariffs on US industrial goods and improve market access for US agricultural products such as pork and dairy.
But many legal details remained undecided at the time, while delays were also caused by the U.S. Supreme Court’s decision to strike down many of Trump’s tariffs.
Meanwhile, Trump’s threats over Greenland also prompted Europe to delay implementing its side of the bargain.
Trump ultimately gave Europe a deadline of July 4 – US Independence Day – to implement the agreement.
EU MPs approved the agreement with 440 MEPs in favor, 151 against and 50 abstaining. It will now need to be signed off by member states – which is widely seen as a formality as individual governments had already approved the terms during negotiations.
Edited by: Rana Taha