The compromise reached on 20 May between the Council of the European Union and the European Parliament on the texts ratifying the Turnberry Agreement marks a new stage in trade relations between Brussels and Washington. But behind the appearance of a transatlantic thaw, the agreement primarily reflects a risk management approach: the aim is to avoid a new surge in US protectionism whilst retaining the means to retaliate should the United States renege on its commitments. Concluded in the summer of 2025 as Donald Trump threatened to impose tariffs of up to 30% on European goods, the Turnberry Agreement capped this ... (full story)