The European Parliament gave final approval Tuesday to legislation implementing the EU-US trade deal. The agreement locks in a 15% tariff ceiling on most EU goods entering the US, and removes EU duties on US industrial exports.
What passed: The main regulation passed 440 to 151 with 50 abstentions. A companion measure making US lobster and processed lobster tariff-free passed by a similar margin. This was the final political step. Only formal Council approval on June 26 and publication in the Official Journal remain before the deal takes effect. The EU is on track to meet President Donald Trump's July 4 ratification deadline.
The two sides: The deal cuts both ways.
EU duties on US industrial goods drop to zero, with preferential access for US agriculture and seafood exports including tree nuts, dairy, pork and bison meat, creating a tariff-free lane for US exporters
The US caps tariffs on most EU goods at 15%, lowering autos from a combined 27.5%
"A deal is a deal, and the EU is delivering its part," European Commission President Ursula von der Leyen said.
The catch on metal: Steel and aluminum are excluded, and US Section 232 tariffs on EU metals remain at 50%. Importers of EU steel and aluminum get no relief under this deal. The deal does give Brussels some leverage. The Commission can suspend its concessions if the US keeps tariffs above 15% on EU steel derivatives past December 31, 2026, with a compliance report due December 1.
The steel industry's position remains unchanged. Axel Eggert, director general of European steel association EUROFER, said "these tariffs are choking European steel exports to the US and meaningful market access remains unresolved."
What it means: For importers of EU goods, the 15% rate is now set through December 31, 2029, rather than moving weekly. Q3 and Q4 landed-cost planning has a firm floor.
