EU clears US tariff deal as exporters get more certainty

The European Parliament has approved tariff legislation implementing the EU’s side of last year’s trade deal with the United States, giving exporters and trade finance providers greater clarity on transatlantic trade flows.

MEPs gave final approval to two pieces of legislation covering EU tariff commitments under the August 2025 EU-US joint statement. The main regulation removes tariffs on US industrial goods and provides preferential access for a range of US seafood and agricultural products.

The vote matters for trade finance because tariff uncertainty has become a major factor in working capital planning, pricing and credit risk assessment. Companies exposed to transatlantic supply chains have had to manage shifting duty costs, trade policy risk and uncertainty around customer demand.

The main proposal was adopted by 440 votes to 151, with 50 abstentions. A second proposal, covering the extension of tariff-free lobster imports and processed lobster, was backed by 444 votes to 152, with 54 abstentions.

The legislation includes a sunset clause, with tariff preferences set to expire on 31 December 2029 unless renewed. It also allows the European Commission to suspend preferences if the US continues to apply tariffs above 15% on EU steel and aluminium derivatives by the end of 2026.

Bernd Lange, chair of the International Trade Committee, said the final text gives the EU “a stronger safety net” through suspension, safeguard and review mechanisms.

For banks, insurers and exporters, the vote reduces one area of trade policy uncertainty. But the safeguard clauses also show that tariff risk remains a live issue for financing, pricing and supply chain decisions.