European Union Finalizes Trade Deal with United States

On 25 June, the European Union Council gave definitive approval to the EU‑US trade agreement, allowing American industrial goods to enter the single market duty‑free while imposing a 15 % tariff on European exports. The deal, negotiated a year earlier by European Commission President Ursula von der Leyen and U.S. President Donald Trump, includes safeguards that let the EU suspend parts of the accord if Washington fails to meet its commitments.

The agreement will take effect once it is published in the EU Official Journal, a step expected before 4 July, the deadline set by Trump. Cyprus, holding the EU’s rotating presidency, emphasized the need for a “strong and open trans‑Atlantic partnership” balanced by protection of European industry. The pact also grants preferential access for U.S. lobsters and certain seafood, and sets conditions for possible suspension if the United States raises tariffs above 15 % on steel‑ or aluminium‑derived products by the end of the year.