The European Parliament's Committee on International Trade has overwhelmingly supported a compromise agreement negotiated by European institutions with the governments of EU member states and the European Commission. The aim is to implement the transatlantic trade agreement with the United States, which was concluded last summer under the administration of US President Donald Trump.

Thirty-one Members of the European Parliament voted in favor of the amendments to the relevant legislation, six were against, and three abstained. The proposal now goes to a final vote in the plenary session of the European Parliament, which is scheduled for June 16. However, a closer result is expected, as the agreement with the United States remains unpopular, especially among some liberal and left-wing MEPs.

The core of the legislation is the elimination of tariffs on American industrial goods and some agricultural products. This is one of the main pillars of the agreement that the EU and the US concluded last summer at Trump's golf resort in Turnberry, Scotland.

European institutions are now trying to complete the legislative process before July 4. It was on this date that Trump threatened to impose higher tariffs if the agreement could not be finalized. The vote in the committee therefore comes after several months of complex negotiations within the EU. MEPs delayed the process, among other things, after Trump threatened to take over Greenland in January, and also after the US Supreme Court's February decision, which overturned a large part of his tariff agenda.

The European Parliament has been trying to secure stronger safeguards during the negotiations to prevent Trump's administration from using tariffs again as a tool of pressure against the EU. As part of the compromise, the European Commission has the option to suspend European tariff concessions if Washington does not reduce tariffs on European steel and aluminum by the end of 2026.

According to the agreement from Turnberry and the subsequent joint statement, the United States is committed to a 15% ceiling on tariffs on most exports from the EU. However, Trump's administration subsequently expanded the list of products containing steel, aluminum, and copper that are subject to higher tariffs. This move provoked opposition from MEPs.

European institutions have also added a so-called "sunset clause" to the text, which is a provision for the automatic expiration of the agreement. According to this provision, the trade agreement would end in December 2029, less than a year after Trump is scheduled to leave the White House.

The revised text also includes protective mechanisms for European industry. The Commission would have to examine whether US exports pose a serious threat to domestic industries. In such a case, it could lead to a partial or complete suspension of European tariff concessions.

The vote on June 16 will therefore be crucial for the future of the agreement. If the proposal is approved, the EU will gain a legislative framework for implementing the transatlantic trade agreement. At the same time, it will retain the tools to limit the risk of unilateral pressure from the United States.

gnews.cz - GH