The move aims to avert a trade dispute with Washington ahead of a July deadline set by the US administration.
A European Parliament committee approved legislation to eliminate import duties on many US goods, aligning with a trade agreement to prevent further escalation. The vote follows a US ultimatum to resolve the issue by 4 July or face potential new tariffs.
The full EU assembly must still approve the measure, expected in mid-June, though it is considered a formality. The decision comes as economic risks rise due to geopolitical tensions, including the Middle East conflict.
Markets may view the development as a de-escalation in transatlantic trade tensions, reducing uncertainty for affected sectors.