Brussels [Belgium], June 16 (ANI): The European Parliament on Tuesday gave its final approval to the two pieces of legislation aimed at implementing the European Union’s trade deal with the US under the August 2025 EU-US joint statement, introducing tariff reductions while incorporating safeguards to protect European industries and the agricultural sector.
According to a press release issued by the European Parliament, Members of the European Parliament (MEPs) backed the main regulation on industrial and agri-food imports by 440 votes to 151, with 50 abstentions.
The legislation eliminates tariffs on all US industrial goods and grants preferential market access to a broad range of US seafood and agricultural products.
A second regulation, approved by 444 votes to 152 with 54 abstentions, extends tariff-free imports of lobster from the US and expands the measure to include processed lobster products.
The Parliament said both proposals had earlier been agreed upon by negotiators from the Parliament and the Council, with several amendments introduced to strengthen the European Commission’s original proposals.
One of the key provisions included in the legislation is a “sunset clause”, under which the regulation covering industrial and agri-food imports will expire on December 31, 2029, unless renewed.
The European Commission is required to conduct a comprehensive assessment of the regulation’s impact on EU industries, agriculture, small and medium-sized enterprises, and trade patterns with third countries by June 30, 2029.
The review could be accompanied by a legislative proposal to extend the regulation, if deemed appropriate.
The legislation also addresses concerns related to US tariffs on steel and aluminium derivatives. The European Parliament noted that the United States had added 407 product categories to the list of derivative steel and aluminium products subject to tariffs in August 2025, contributing to trade uncertainty.
Under the newly approved measures, the Commission will have the authority to suspend tariff preferences if, by December 31, 2026, the US continues to impose tariff rates exceeding 15 per cent on EU steel and aluminium derivatives.
The Commission will also submit a report to the European Parliament and the Council on the tariff treatment of these products by December 1, 2026.
Additionally, the Commission may suspend tariff preferences if the United States fails to address EU concerns regarding the tariff treatment of Union exports that had benefited from a 15 per cent all-inclusive tariff ceiling until February 24, 2026.
“The Commission will also be able to suspend tariff preferences if the United States fails to address the EU’s concerns regarding the tariff treatment of Union exports which, until 24 February 2026 benefitted from the 15% all-inclusive tariff ceiling,” the release read.
The Parliament and the Council have also agreed to establish a safeguard mechanism designed to protect EU industries, including the agricultural sector, from any surge in US imports resulting from tariff preferences. The Commission will be empowered to launch investigations either on its own initiative or based on information provided by member states or the European Parliament.
Furthermore, the Commission will submit quarterly reports to the Parliament and the Council detailing changes in the volume and value of US exports covered under the legislation.
The legislation now awaits formal approval from the Council before entering into force following its publication in the Official Journal of the European Union.
Following the announcement, European Commission President Ursula von der Leyen welcomed the European Parliament’s approval, saying that the bloc was delivering on its promises and moving closer to eliminating tariffs on imports of US industrial goods.
In a post on X, von der Leyen said, “I welcome today’s positive vote in the European Parliament on our EU-US trade agreement. A deal is a deal – and the EU is delivering its part.”
She said the parliamentary approval marked a significant step towards fulfilling the European Union’s commitments under the agreement, highlighting its role in “ensuring strong and stable transatlantic trade and investment”.
“With this milestone, we are days away from fulfilling our commitment to remove tariffs on imports of US industrial goods,” von der Leyen said.
“With full implementation on both sides, our agreement will deliver even more benefits for citizens and businesses,” she added.
The measures stem from a tariff and trade agreement reached on July 27, 2025, in Turnberry, Scotland, between US President Donald Trump and the European Commission President. The European Commission subsequently published two legislative proposals on August 28, 2025, to implement the tariff-related aspects of the joint statement. (ANI)