EU bows to Trump pressure on tariffs but warns of future chaos

The European Parliament approved on Tuesday cutting duties on many US goods imports to fulfil the European Union

’s side of a trade ‌deal struck last year, and avert a new round of tariff conflict between the world’s largest trading partners.

Almost 11 months later, the EU has yet to implement the import duty cuts, prompting Trump to ⁠threaten “much higher” tariffs unless the EU took action by July 4.

The EU should meet that deadline after its assembly cleared ‌the last significant legislative hurdle. It also extended duty-free imports of US lobsters, a mini-deal struck with Trump in his first term as president.

EU countries are now expected to give their final nod on June 26, the last step in a fitful, year-long ratification process.