The European Parliament today approved the trade agreement between the United States (US) and the European Union (EU) reached at the summit between the two sides in Turnberry, Scotland, in 2025.
In Strasbourg, 440 members of the European Parliament voted for ratification, 151 were against, and 50 abstained.
The EU Council is expected to give final, formal approval on June 26th, so that the agreement would officially enter into force the day after its publication in the EU Official Journal.
The US has until July 24 to confirm the agreement's tariff provisions, aligning them with the expiration of its previous tariff rates.
In early May, US President Donald Trump threatened to increase tariffs on certain EU products if the EU did not implement the agreement by July 4.
It is assumed that the US-EU trade agreement will fully enter into force at the end of June or during July of this year.
The agreement, informally known as the "Turnbury Agreement", faced almost a year of political delays, primarily due to opposition from agricultural producers in Europe.
The EU's concessions are that it will eliminate import tariffs on American industrial goods, such as machinery and auto parts, remove tariffs on lobsters, and reduce barriers to certain American agricultural products such as pork and dairy products.
The US concessions are that it will limit broad tariffs on European exports to 15%.
Due to the fragility in EU relations with the US, MEPs added safeguards: the EU could completely suspend its tariff preferences if the US continues to tax European steel and aluminium products above 15%.
The agreement will be valid until December 31, 2029, unless it is officially renewed.
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