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EU Moves Forward on Trade Legislation Amid US Tariff Concerns

The European Union has advanced legislation to implement its side of a trade agreement with the United States, after months of uncertainty over tariff threats and import levies under President Donald Trump.

The European Parliament voted 417 in favour, 154 against, and recorded 71 abstentions. Lawmakers added safeguards to the legislation, reflecting ongoing concerns that the United States may not fully uphold the deal negotiated in Turnberry, Scotland, last July.

These safeguards include sunrise, sunset, and suspension clauses, and require the US to remove the 50% duties imposed a month after the Turnberry agreement on steel and aluminium used in products such as wind turbines and motorcycles. European Trade Commissioner Maros Sefcovic described the vote as a “crucial step” that delivers certainty for EU businesses. The US Mission to the EU welcomed the vote, calling it a positive development for transatlantic trade.

The legislation will remove EU import duties on US industrial goods, improve access for American agricultural produce, and maintain zero duties for US lobsters, which were initially agreed with the Trump administration in 2020.

Parliamentarians cautioned that the vote does not conclude the process. Representatives from the European Parliament and member state governments must negotiate final texts before a final approval vote, expected in April or May.

Concerns over the deal have persisted among EU lawmakers, who argue that the agreement is uneven. The US remains the EU’s largest trading partner, with exports to the United States reaching a record €555 billion in 2025. Many parliamentarians highlighted that the EU must cut most import duties while the US maintains a broad 15% rate on European goods.

Bernd Lange, chair of the parliament’s trade committee, said the agreement “was not really an agreement at all,” while Belgian Social Democrat Kathleen Van Brempt described it as a “bad deal” that fails to provide stability or protection from tariffs and threats.

The vote had been scheduled earlier in the year but was delayed after Trump threatened tariffs on European allies that did not support his proposed acquisition of Greenland, followed by the imposition of an import surcharge.

The sunrise clause makes EU duty reductions conditional on the US honouring its commitments, the sunset clause sets an expiration date of 31 March 2028 for the tariff concessions, and a suspension clause allows the EU to halt the deal if Washington breaches the agreement or if a surge of imports damages European markets.

Lawmakers said the added provisions were necessary to protect EU industries while still pursuing closer trade ties with its largest partner. The legislation represents a key step in balancing market access for US products with safeguards for European producers, even as transatlantic relations continue to face uncertainty.

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Fraudsters are increasingly using AI-generated images and videos to trick people into handing over sensitive personal and financial information, according to FraudSMART, the financial crime awareness initiative operated by the Banking and Payments Federation Ireland (BPFI). The organisation has reported a rise in online adverts promoting fake, State-backed investment schemes. These scams often use fabricated images of well-known politicians and business figures to make the offers appear legitimate and encourage users to click on registration links. Niamh Davenport, head of financial crime at BPFI, said scammers are deliberately exploiting recent media coverage of a planned State-backed savings and investment scheme to give their frauds a sense of credibility. “They often claim the scheme is open to everyone, but that places are limited and being ‘snapped up’ fast, in order to pressure people to act quickly,” she said. “They typically promise guaranteed returns or a guaranteed monthly income.” FraudSMART said that while anyone can be targeted, people in their early 50s are particularly vulnerable to investment scams. This age group is often focused on retirement planning, making them more receptive to financial offers that appear secure or high-yield. According to the organisation, most scams follow a similar pattern. Victims are first directed to click a registration link and complete a short online form providing their contact details. They are then contacted by someone posing as a financial adviser, who urges them to make an immediate “security deposit” to secure participation in the scheme. Once a payment is made, the money is quickly moved through multiple accounts, often overseas, making recovery extremely difficult. Davenport warned that scammers are becoming more sophisticated in their use of technology, particularly AI tools that allow them to create realistic but entirely fake promotional content. These materials are designed to mimic legitimate financial advertisements and build trust with potential victims. Recent figures from An Garda Síochána show investment fraud rose by 20% last year, with losses exceeding €20 million. The scale of individual scams varies widely, ranging from smaller crypto-related frauds involving a few hundred euro to large-scale investment schemes where victims lose tens of thousands. FraudSMART is urging the public to remain cautious when encountering online investment advertisements, especially those promising guaranteed returns or requiring urgent action. It also advises consumers to avoid sharing personal information with unverified sources and to be wary of pressure tactics designed to rush financial decisions. Authorities continue to warn that fraudsters are adapting quickly, using advanced digital tools to target victims across multiple platforms.

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Business

Fraudsters are increasingly using AI-generated images and videos to trick people into handing over sensitive personal and financial information, according to FraudSMART, the financial crime awareness initiative operated by the Banking and Payments Federation Ireland (BPFI). The organisation has reported a rise in online adverts promoting fake, State-backed investment schemes. These scams often use fabricated images of well-known politicians and business figures to make the offers appear legitimate and encourage users to click on registration links. Niamh Davenport, head of financial crime at BPFI, said scammers are deliberately exploiting recent media coverage of a planned State-backed savings and investment scheme to give their frauds a sense of credibility. “They often claim the scheme is open to everyone, but that places are limited and being ‘snapped up’ fast, in order to pressure people to act quickly,” she said. “They typically promise guaranteed returns or a guaranteed monthly income.” FraudSMART said that while anyone can be targeted, people in their early 50s are particularly vulnerable to investment scams. This age group is often focused on retirement planning, making them more receptive to financial offers that appear secure or high-yield. According to the organisation, most scams follow a similar pattern. Victims are first directed to click a registration link and complete a short online form providing their contact details. They are then contacted by someone posing as a financial adviser, who urges them to make an immediate “security deposit” to secure participation in the scheme. Once a payment is made, the money is quickly moved through multiple accounts, often overseas, making recovery extremely difficult. Davenport warned that scammers are becoming more sophisticated in their use of technology, particularly AI tools that allow them to create realistic but entirely fake promotional content. These materials are designed to mimic legitimate financial advertisements and build trust with potential victims. Recent figures from An Garda Síochána show investment fraud rose by 20% last year, with losses exceeding €20 million. The scale of individual scams varies widely, ranging from smaller crypto-related frauds involving a few hundred euro to large-scale investment schemes where victims lose tens of thousands. FraudSMART is urging the public to remain cautious when encountering online investment advertisements, especially those promising guaranteed returns or requiring urgent action. It also advises consumers to avoid sharing personal information with unverified sources and to be wary of pressure tactics designed to rush financial decisions. Authorities continue to warn that fraudsters are adapting quickly, using advanced digital tools to target victims across multiple platforms.

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