European Commission President Ursula von der Leyen announced a provisional agreement on legislation to remove import duties on U.S. goods, marking a key step toward finalizing a long-stalled trade deal.
The move comes amid escalating tensions between the U.S. and EU, with President Donald Trump having set a July 4 deadline for ratification, warning of higher tariffs if the pact is not finalized.
The development is expected to ease immediate pressure on transatlantic trade, particularly in the automotive sector, where Trump had threatened to impose 25% tariffs on imported cars.
The development is expected to ease immediate pressure on transatlantic trade, particularly in the automotive sector, where Trump had threatened to impose 25% tariffs on imported cars.
While the agreement is not yet finalized, it signals a potential de-escalation of the trade dispute, which has weighed on in recent months.
The EU's progress follows months of negotiations and reflects a broader effort to align with U.S. trade priorities.
Analysts suggest that the deal could help avoid a further deterioration in relations, which have been strained by previous tariff disputes and geopolitical tensions.