The Trade Committee of the European Parliament voted in favor of ratifying part of those trade agreements. Parliamentarians had repeatedly postponed the vote due to dissatisfaction with American threats regarding Greenland and the introduction of new import tariffs by President Trump.
The committee specifically voted on the abolition of import tariffs on certain American industrial products and lobster. Now the entire European Parliament still has to vote on it. Often, the trade committee’s verdict already indicates which way things are heading.
Dissatisfaction
Several Members of the European Parliament (MEPs) had previously expressed dissatisfaction with the unpredictability of US trade policy. After the US Supreme Court rejected a large portion of Trump’s additional import tariffs, the president introduced a new aggregate tariff of 10 percent. Added to older US import tariffs, this would amount to more than 15 percent for certain products from Europe.
Trade war
A majority of the Trade Committee therefore also voted in favour of a special clause on Thursday. This stipulates that the final reduction of European tariffs on American products will take effect if the US guarantees to abide by the trade deal.
According to Lange, a member of the Social Democratic S&D group, this addition prevents the EU from blindly agreeing to the July trade deal. “Europe is keeping the helm in its own hands”, he said. The largest group in the parliament, the centre-right EPP, emphasised the importance of swift approval of the agreement. “Companies on both sides need predictable rules”, said EPP MEP Željana Zovko. “This deal narrowly avoids a trade war”.
@anp | NEWSBRAINPORT
