EU strikes deal on Trump trade pact

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🗞️ Driving the news: The EU has reached a compromise to implement the Turnberry trade pact with the U.S., scrapping tariffs on U.S. industrial and some farm goods while Washington caps tariffs on most European exports at 15%
• The deal includes reporting obligations and safeguards on steel and aluminum tariffs, with a sunset clause set for December 2029

🔭 The context: Deliberations stalled after U.S. tariff threats and previous Trump-era territorial disputes, including Greenland
• The EU negotiated mechanisms allowing the Commission to suspend the deal if Washington fails to comply, balancing internal parliamentary concerns with maintaining transatlantic trade stability amid energy shocks

🌍 Why it matters for the planet: Securing tariff stability would help ensure predictable trade flows for European manufacturers, including industries critical to renewable energy infrastructure, energy transition materials, and industrial components, supporting economic resilience during geopolitical energy disruptions

⏭️ What’s next: The compromise now advances to the European Parliament, where a plenary vote is expected during the June 15–18 session
• Lawmakers may demand stricter suspension rules or reject the deal, but negotiators hope the European People’s Party majority ensures passage

💬 One quote: “We are ensuring stability and security for European manufacturers, fully aware that we cannot, of course, always guarantee that the U.S. will abide by the agreement.” – Bernd Lange, European Parliament trade committee chair

📈 One stat: The Turnberry pact governs €1.7 trillion in annual transatlantic trade

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