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The European Union has reached a provisional agreement on implementing the US-EU trade agreement plan.

The European Union has reached a provisional agreement on implementing the US-EU trade agreement plan.

金十金十2026/05/20 06:28
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Golden Ten Data reported on May 20 that the European Parliament's International Trade Committee released a statement on the 20th, announcing that the European Parliament and EU member states reached a provisional agreement in Strasbourg, France, on implementing the EU-US trade agreement. According to this provisional agreement, the EU's tariff preferences on US industrial goods as well as certain agricultural and seafood products will expire on December 31, 2029, unless both sides decide to extend them. The EU will also establish a "safeguard mechanism." Should US imports surge and severely impact EU industry or agriculture, the European Commission can initiate an investigation and suspend the relevant preferential measures. Regarding steel and aluminum products, if the US maintains tariffs higher than 15% on EU steel and aluminum derivative products by the end of 2026, the European Commission may suspend certain tariff preferences. According to procedure, the International Trade Committee of the European Parliament is expected to hold a special meeting on June 2 to review the relevant text, and the full European Parliament is expected to hold a vote in mid-June.
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