Brussels, May 20 -- In a breakthrough, the European Union (EU) cleared a major hurdle that will make progress on the trade pact with the US fast. The bloc agreed on the legislation that will remove import duties on US goods entering the EU. US President Trump had set a July 4 deadline after which he threatened to increase the tariffs on EU goods coming to the US.

Both the EU and the US had reached a trade deal last July at President Trump's Turnberry golf resort in Scotland. As part of the deal, the EU had agreed to remove import duties on US industrial goods and give preference to US farm and sea produce. The US had, in turn, agreed to impose tariffs of 15% on EU products.

The development comes after the European Commission and the Par...