EU Approves US Trade Agreement, Sets 15% Tariff Cap on June 25

According to Jin10, the European Union's trade agreement with the United States received final approval on June 25 and is set to take effect. Under the deal, the EU will eliminate tariffs on US industrial goods and certain agricultural products in exchange for a 15% tariff ceiling on EU exports to the United States. However, the agreement faces immediate tests: both sides must reach a separate accord on aircraft subsidies before a five-year suspension of $11.5 billion in retaliatory tariffs expires on July 11. The EU Commission stated it is in discussions with the US government to maintain the current pause on reciprocal measures.
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