Brussels Says “Yes, But…” to Washington
The European Parliament has conditionally approved a limited trade package with the US that lowers tariffs on select products while attaching strict safeguards. Unlike a comprehensive deal such as the old TTIP, this “mini-deal with a maxi-rulebook” prioritises EU regulatory autonomy on environment, labour and data protection over the size of the tariff cuts, which are modest given already-low starting rates. The transatlantic relationship behind it is enormous — around €1.3 trillion in 2023 trade and over 40% of global foreign investment stock — so Parliament’s insistence on embedding sustainability standards and enforceable protections sets a template that will shape how the West’s two largest economies structure trade going forward.
Originally published on Substack, March 27, 2026.