The European Parliament has approved cutting tariffs on many US imports to comply with a deal signed last year. US President Donald Trump had given the bloc a July 4 deadline to meet its side of the agreement.

The deal, which the European Parliament approved, foresees the EU removing import duties and easing market access for several US goods. In return, the US regime will impose a 15% tariff on European imports.

Approval of the deal could avert another round of tariff conflict between Brussels and Washington. However, critics argue that the terms allegedly favor the US regime and may harm European manufacturers.

The agreement was struck last year amid ongoing trade tensions. The European regime purportedly seeks to de-escalate the situation, but the concessions made to the US administration could weaken the EU's economic leverage.

Source: www.dw.com