EU member states approved a US-EU trade agreement on Thursday that will take effect after final formalities. Under the deal the EU will remove tariffs on US industrial goods and some agricultural products in exchange for a 15% tariff cap on EU exports to the US. The approval ends nearly year-long ratification deadlock and follows a Trump threat to impose new tariffs if the deal was not advanced by July 4. A five-year suspension of $11.5bln in retaliatory tariffs expires on July 11; both sides mu

EU member states approved a US-EU trade agreement on Thursday that will take effect after final formalities. Under the deal the EU will remove tariffs on US industrial goods and some agricultural products in exchange for a 15% tariff cap on EU exports to the US. The approval ends nearly year-long ratification deadlock and follows a Trump threat to impose new tariffs if the deal was not advanced by July 4. A five-year suspension of $11.5bln in retaliatory tariffs expires on July 11; both sides must resolve the aircraft-subsidy dispute before then or the pause will lapse. The European Commission says it is discussing continued suspension of retaliatory measures with the US. Remaining disputes over metal tariffs and technology regulation could revive bilateral tensions in coming months.