EU Lawmakers Preliminarily Approve EU-US Trade Deal, Full Vote Scheduled for June 16
0xBroomberg
The European Parliament's trade committee voted Tuesday to approve the US-EU trade deal, clearing the path for a June 16 plenary vote; the agreement scraps EU tariffs on US industrial goods in exchange for a 15% US tariff cap, but includes a 2029 sunset clause and a steel-aluminum safeguard trigger.
What does each side actually give up?
The EU commits to eliminating tariffs on US industrial goods; in return, the US caps tariffs on EU exports at 15%.
This means → each side trades one concession: the EU drops its industrial tariff wall, the US agrees to stop escalating.
The final text adds a sunset clause expiring end-2029 and a provision letting the EU suspend the deal if steel and aluminum tariffs exceed 15% after 2026.
In plain terms = this is not a permanent settlement — it is a ceasefire with an exit button built in.
Why did ratification take so long?
The deal was first struck last summer, but the EU froze the approval process twice after that.
The first freeze came after Trump issued threats over Greenland; the second followed a US court ruling that struck down the president's global tariff order as invalid.
This reflects how fragile the US-EU relationship remains — a political move by either side can shelve an already-negotiated agreement.
What steps remain before the deal takes effect?
The European Parliament plenary vote is set for June 16; EU member states are expected to give final endorsement afterward.
Trade committee chair Bernd Lange had already voiced public support; Tuesday's committee vote landed as expected.
Trump has warned explicitly: if the deal is not in place by July 4, he will raise tariffs on European cars to 25%.
This means → the EU has fewer than three weeks to complete the entire process — the time pressure is real.
Content is for reference only, not financial advice.