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EU and U.S. Reach Provisional Trade Agreement with Tariff Relief Until December 31, 2029

GateNews

2026-05-20 05:37:58

According to the European Parliament's International Trade Committee, the EU and U.S. reached a provisional trade agreement on May 20. Tariff benefits on American industrial goods and certain agricultural and seafood products will expire on December 31, 2029, unless both sides agree to extend. The EU will establish safeguard mechanisms allowing the European Commission to investigate and temporarily suspend tariff benefits if U.S. imports surge and cause serious harm to EU industries or agriculture. On steel and aluminum, if the U.S. maintains tariffs above 15% on EU steel and aluminum derivatives through the end of 2026, the Commission may suspend certain tariff concessions.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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