EU Trade Committee Approves Compromise to Implement Turnberry Deal

Overview

• The European Parliament’s trade committee approved the implementing legislation by 31 votes to six with three abstentions on Tuesday, June 2, moving the file closer to a full parliamentary vote.
• Under the Turnberry framework the EU would cut many tariffs on U.S. industrial goods and some farm products while the United States caps most levies on EU exports at 15 percent.
• The compromise adds specific guardrails that let the European Commission suspend EU concessions if Washington does not roll back extra duties on steel and aluminum by the end of 2026 and establishes a December 2029 sunset for the measures.
• The text keeps zero duties for U.S. lobsters and now faces a June 16 plenary vote plus the requirement of unanimous approval by EU member states in the Council before it becomes law.
• The deal aims to avert a transatlantic tariff fight before President Donald Trump’s July 4 deadline but still faces political, legal and reputational risks if the U.S. pursues new tariff actions on other grounds.