LUXEMBOURG — The European Union took a major step Thursday to honor its commitments under a transatlantic trade agreement, as EU member governments formally adopted legislation that eliminates import duties on a broad range of American goods.
The move fulfills the EU’s end of a trade deal reached with U.S. President Donald Trump and helps head off the possibility of renewed trade tensions between the two economic powers.
The European Parliament had already signed off on the legislation the previous week, approving it by a vote of 440 in favor, 151 against, and 50 abstentions — nearly 11 months after the original framework agreement was first reached.
Thursday’s formal adoption by the Council, which represents EU member governments, puts the EU on pace to meet a July 4 deadline set by Trump, who had warned of “much higher” tariffs if the bloc did not act in time. The legislation will officially go into force once it is published in the EU’s official journal.
As part of the agreement, the EU committed to dropping import duties on U.S. industrial products and opening the door to preferential access for American agricultural goods. The deal also continues duty-free treatment for U.S. lobster imports — an arrangement that was originally negotiated with Trump during his first term in office.
The legislation is set to expire at the close of 2029 and contains several built-in safeguards that would allow the EU to suspend its concessions should the United States fail to uphold its side of the agreement.
