EU to implement trade deal with US from tomorrow

The European Union is set to implement its tariff deal with the United States from tomorrow, fulfilling a July 4 deadline established by then-President Donald Trump. The European Commission announced the move, confirming that the necessary texts enacting the bloc's side of the accord have been published in its official journal.

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Promise made, promise delivered.

This agreement, sealed last July between Trump and EU chief Ursula von der Leyen, establishes levies of 15% on the majority of EU exports to the US. Conversely, US industrial goods entering the 27-nation bloc will be subject to zero tariffs. An EU spokesman stated, "Promise made, promise delivered," emphasizing the bloc's commitment to its trade agreements.

The implementation follows a period of delay, influenced by threats from Trump regarding trade and a US Supreme Court ruling that invalidated several of his tariffs. Despite these hurdles, EU member states granted their final approval last week, following parliamentary endorsement earlier in the month. Safeguards have been included, granting the European Commission the power to suspend the pact if the US fails to meet its commitments or disrupts trade.

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The European Union always follows through on its commitments that we make in trade agreements.

The deal also includes an expiration date of the end of 2029, unless renewed. The agreement's finalization comes after Trump had previously threatened a 100% tariff on European countries imposing a digital services tax, highlighting the complex trade relationship between the two entities.

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The European Union always follows through on its commitments that we make in trade agreements.