European Parliament Committee Votes to Scrap US Tariffs, Averting Trade Row
The European Parliament's trade committee has voted to remove EU import duties on a range of US goods, a move crucial to implementing a US-EU trade deal agreed upon in July of the previous year. This decision is aimed at preventing a potential trade conflict, as President Trump had set a deadline of July 4 for the EU to ratify the deal or face increased tariffs on European goods. The committee's vote saw 31 members in favor, six against, and three abstentions. The legislation is expected to be approved by the full EU assembly in mid-June. The trade deal includes capping US levies on most European imports at 15%, while the EU will eliminate tariffs on US industrial goods and improve market access for US agricultural products. The US and EU are significant trading partners, with an annual exchange of $2 trillion in goods and services. 
