Deal struck to strengthen stability in EU-US trade relations
European Liberals and Democrats are pleased that many of our key demands to "Trump proof" the Turnberry deal are reflected in the final agreement reached overnight, to ensure that if the US reneges on the agreement, Europe can hit back.
The agreement introduces a safeguard clause, a steel clause, a sunset clause expiring in December 2029, and strengthened suspension provisions - alongside clear reporting and evaluation mechanisms.
The suspension mechanism agreed by negotiators empowers the European Commission to reimpose tariffs if Washington wouldn’t comply with the agreement, particularly regarding steel and aluminium derivatives.
MEP Karin Karlsbro (Liberalerna, Sweden), Renew shadow rapporteur on this file stated :
"Reaching this agreement was necessary, to Trump-proof trade with the United States and to avoid a pointless trade war. Trade relations must be built on mutual respect and Europe has now set conditions for the transatlantic relations. By finalising this agreement we are doing what we can to provide ourselves and European businesses with as much stability as possible under current circumstances."
Karin KarlsbroRenew Europe MEP, Sweden, Liberalerna
Renew Europe will continue to hold the Commission accountable for the implementation of this agreement and to ensure that European interests remain fully protected throughout the lifetime of the deal.