France, May 28 -- The accord struck last July caps US levies on most European goods at 15 percent, but to President Donald Trump's frustration the EU had yet to make good on its pledge to scrap levies on most American imports in return.

But a compromise negotiated between EU capitals and Members of the European Parliament (MEPs) last week put the bloc on track to meet Trump's 4 July deadline to implement the deal or face punitive new levies.

Diplomats meeting in Brussels on Wednesday formally approved the text, which MEPs are to officially back when they meet in Strasbourg in mid-June.

EU-US trade deal averts tariff hikes, but sparks unease in Europe

The compromise attached safeguards to the removal of EU tariffs, should the US renege...