Brussels, (Unib Rashid) — The European Parliament has approved the EU-US Turnberry trade deal with significant safeguard measures. Under the agreement, the United States will reduce duties on European products from 50% to 15%. In return, the US will be able to export a wide range of seafood and agricultural products to the European market at preferential rates.

The agreement, adopted with a majority of 417 votes, includes three major protective amendments introduced by Members of the European Parliament.

Under the suspension clause, the European Commission has been granted the authority to suspend or terminate the agreement if the United States attempts to pressure EU member states or their trade authorities, engages in economic coercion, or interferes with the agreed 15% tariff ceiling.

Similarly, under the sunrise clause, the new tariffs will only come into effect if the United States honors its commitments and reduces tariffs on EU products containing less than 50% steel and aluminum content to a maximum of 15%.

Furthermore, for EU products containing more than 50% steel and aluminum, unless the US lowers its tariffs to 15%, EU tariff preferences for US exports of steel, aluminum, and their derivative products will cease to apply six months after the regulation enters into force.

In addition, Members of Parliament have introduced a sunset clause, limiting the validity of the agreement to two years instead of leaving it open-ended.

Moreover, under the safeguard mechanism, the European Commission has been given monitoring powers. If US imports become cheaper than local products or pose any potential threat to European industries, the Commission will be able to take appropriate action.

The Parliament’s approval marks a significant step forward, while final negotiations with EU member states are expected to determine the ultimate shape of the legislation.