Alert: EU‑US trade deal
23 June 2026
On Tuesday, 16th of June 2026, the European Parliament gave its final approval for the implementing legislation concerning tariffs and trade with the United States. This legislation is based on the agreement between the European Union and the United States reached in July 2025. The aim of this agreement is to restore stability and predictability in the transatlantic trade relationship and to prevent further escalation of trade measures.
In this context, the European Parliament has now approved two regulations that form the core of the market opening. This legislation provides for:
- Elimination of import duties on all US industrial goods;
- Preferential market access for US seafood and agricultural products (e.g. through quotas or reduced tariffs);
- The extension of the existing regime for duty-free imports of (processed) lobster.
On the other hand, the United States has committed to a tariff cap of 15% on the majority of EU exports. This cap applies in sectors such as automotive, pharmaceuticals and semiconductors. At the same time, (near) “Most Favoured Nation” tariffs will continue to apply to a number of strategic product groups, including:
- Aircraft and parts;
- Certain chemical products;
- Generic pharmaceutical products;
- Specific natural resources.
Although the agreement aims to further open markets, the EU has incorporated several safeguard mechanisms to enable swift action in the event of disruption or non-compliance by the US. The arrangement includes a 'sunset clause', a 'strengthened suspension clause' and a 'safeguard mechanism', all essentially aimed at allowing the EU to suspend US preferences if it is adversely affected.
The European Council will now assess the two regulations. If approved, the regulations will enter into force on the day after publication in the Official Journal of the EU.
If you would like to understand how this impacts your supply chain, we would be happy to support you. Please feel free to contact us if you have any questions regarding these developments.
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