US President Donald Trump has threatened to impose higher tariffs on European goods if the European Union fails to ratify a trade agreement with Washington by the July 4 deadline.

The European Parliament's trade committee voted overwhelmingly on Tuesday to remove EU import duties on a range of US goods. The vote was 31 in favor, six against, and three abstentions. The committee also backed maintaining zero duties on US lobsters.

The deal caps US levies on most European imports at 15%. In return, the EU pledged to scrap tariffs on US industrial goods and ease market access for US agricultural products such as pork, dairy, and seafood.

The US is the EU's largest trading partner, with an annual exchange of $2 trillion (€1.7 trillion) in goods and services.

Implementation of the deal was delayed by several factors, including Trump's other tariff threats, his bid to annex Greenland, and legal uncertainty triggered by a US Supreme Court ruling that struck down many existing tariffs.

EU lawmakers gave their green light in March but sought additional safeguards should the US renege on its commitments. Some measures were later scaled back to avoid reigniting trade tensions with Washington.

A 'sunset' clause to terminate the deal by March 2028 was pushed back to the end of 2029 — after Trump's term ends. The US also has until the end of the year to drop extra taxes above 15% on steel components.

Source: www.dw.com