European Parliament gives conditional approval to EU-US trade deal

The European Parliament has conditionally approved a trade deal between the European Union and the United States that would eliminate EU tariffs on American goods while setting US tariffs on EU imports at 15%. The agreement represents a significant shift in transatlantic trade relations, with the EU securing duty-free access to the US market in exchange for accepting higher American tariffs on its exports. The conditional approval suggests Parliament has reservations about terms—likely centered on the tariff asymmetry—and may require modifications before final ratification. This deal would reshape bilateral commerce and potentially influence pricing for European consumers on American products while affecting competitiveness of EU exporters in the US market. The agreement still requires formal approval from EU member states and could face pressure from manufacturing sectors concerned about the 15% US tariff rate.