Europe finally managed to agree on the night of Tuesday May 19 to Wednesday May 20 on the ratification of the trade agreement negotiated last summer with the United States. The representatives of the Member States of the European Union (EU) and the European Parliament, “under the pressure of recent threats by American President Donald Trump,” agreed to accept “the full application of the controversial customs agreement with the United States†, reports The daily news.
The agreement stipulates that tariffs on imports of American industrial products into the EU will be removed and guarantees to the United States “better access to the European market for their agricultural and seafood products†, details the Hamburg media. In return, customs duties on European exports to the United States will be capped at 15%. THE “Tariff concessions granted by the EU will be suspended in the event of non-compliance with the agreements by the United Statesâ€.
This provisional agreement allows us to avoid the ax announced by Donald Trump on July 4, “Deadline providing for an increase in customs duties on cars†à 25 %, rappelle The Wall Street Journal. The EU had suspended ratification of the agreement when the Republican president imposed in February
