EU Expedites Start of US Trade Deal

• EU finalizes the text of its long-awaited trade deal with the United States after months of negotiations.
• Under the agreement, the EU will remove levies on US industrial goods in return for a 15% ceiling on tariffs.
• Negotiated amendments include extending the expiration date to end of 2029 (from March 2028) and measures to shield EU industries from spikes in US imports.
• The deal omits a provision to delay implementation until the US honors commitments and can be suspended if the US violates commitments, particularly regarding steel and aluminum tariffs.

The European Union has finalized the text of its trade deal with the United States, aiming to calm transatlantic trade tensions. The agreement includes the EU removing levies on US industrial goods in exchange for a 15% tariff ceiling on the bloc's exports, with an extended expiration date to the end of 2029.