The EU is racing to finalize a trade deal with the US.

VTV.vn - European Union (EU) officials met on May 19 in Strasbourg in an effort to finalize the legal procedures for a trade agreement with the United States.

The final text has yet to be agreed upon by the EU, even though the agreement was signed nearly a year ago.

The negotiations are taking place against the backdrop of increasing pressure from US President Donald Trump, who threatens to impose new tariffs if an agreement is not reached before July 4th. If this deadline is missed, Trump has warned he will raise import tariffs on cars from Europe from the current 15% to 25%.

The ratification process in the European Parliament has faced numerous obstacles following a series of geopolitical and legal developments. Specifically, the US Supreme Court rejected Trump's use of emergency powers to impose global tariffs. Furthermore, the US leader's statements regarding the annexation of Greenland also provoked strong reactions from European parliamentarians.

According to the agreement signed last July, the EU agreed to abolish tariffs on US industrial goods in exchange for Washington imposing a 15% tariff ceiling on most European goods. However, EU officials argue that the US has not fully complied with the terms when it expanded tariffs on steel and aluminum to 50% last August.

Bernd Lange, Chairman of the European Parliament's Trade Committee, noted that significant progress had been made in the negotiations. He expressed hope that the parties could soon reach a compromise solution, including new proposals to break the current deadlock.

Despite positive signs, the European Parliament has introduced several important amendments to the legislation. Accordingly, the agreement will only take effect after the US fully fulfills its commitments and will expire in March 2028 unless both sides extend it. Significantly, the EU reserves the right to retaliate if the US violates the terms in the future. Zeljana Zovko, a MEP from the European People's Party (EPP), expressed confidence that the parties will complete the work on time.

Source: https://vtv.vn/eu-chay-dua-hoan-tat-thoa-thuan-thuong-mai-voi-my-10026051919095857.htm