EU-US Trade Deal Approved, Tariffs Cut

0:00On March 26, the European Parliament has approved legislation to roll out a new EU-US trade deal, easing tensions from President Trump's tariff. Threats. Lawmakers voted 417 to 154 in favor, with 71 abstentions, setting tariffs at 15% on most EU. Goods down from the initial 30% threat in return for European investments in the US, and drop duties on American industrial products. They added strong safeguards to protect the EU, like suspending the deal if the US hikes tariffs beyond 15% or threatens European territory. A sunrise clause ensures EU tariff cuts only kick in if the US follows through, especially on goods with less than 50% steel and aluminum, while a sunset clause ends everything by March 31, 2028. Commissioners expressed cautious optimism after the vote, noting reassurances from the US to honor the agreement while vowing to watch for risks. The deal stems from talks last July between European leaders and Trump,

1:03aimed at boosting US investments by $600 billion, including military gear and energy purchases to cut Europe's Russian reliance. This still needs approval from all 27 EU member states with a final vote likely in April or May. It underscores the massive trade ties with over 1.6 trillion Euros exchange last year. Meanwhile, the EU is diversifying with fresh deals, like one with Australia this week, and another with India in January helping buffer against global tariff shifts. From around the world, powered by AI, this is Global News Today.