The European Parliament approved its trade deal with the US, agreeing to reduce tariffs on industrial and agricultural goods. Washington agreed to cap its own tariffs.
The deal was agreed last year, but votes were postponed after US President Donald Trump threatened to annex Greenland, leading parliamentarians to demand extra safeguards.
The delays have frustrated Trump, who threatened tariff hikes if a deal wasn’t made soon, but Brussels no longer trusts Washington and demanded exit clauses.
Europe is fighting a trade war on two fronts: At the G7, France’s president called for stronger action against Chinese overproduction, including protecting European industries from subsidized imports, although the odds of a coordinated EU position on Beijing are “exactly zero,” one analyst said.