The European Union (EU) has successfully negotiated a deal to implement its trade pact with the United States, responding to President Donald Trump's ultimatum to finalize the agreement by July 4. This pact, established last July, imposes a 15% tariff on most European goods and aims to stabilize the significant €1.6 trillion ($1.9 trillion) transatlantic trade relationship. Late-night negotiations among EU lawmakers and member states culminated in a compromise that addresses several contentious issues, including tariff conditions and compliance mechanisms. Cyprus's Energy Minister Michael Damianos emphasized the importance of maintaining a stable partnership, stating, "Today, the European Union delivers on its commitments." In a bid to meet Trump’s demands, the EU parliament agreed to modify its amendments, including a suspension clause that would have penalized the US for any breaches of the deal. The final agreement now allows the US until the end of 2023 to remove additional tariffs on steel components and extends the sunset clause to 2029. This compromise is seen as crucial for mitigating trade tensions and fostering a more predictable economic environment for EU businesses.