The European Parliament approved tariff cuts on US imports to fulfill a trade agreement and prevent further escalation of trade tensions.

The European Parliament approved on Tuesday cutting duties on many US goods imports to fulfil the European Union’s side of a trade ‌deal struck last year, and avert a new round of tariff conflict between the world’s largest trading partners. US President Donald Trump struck a framework deal with the European Union at his Turnberry golf course in Scotland last July under which the EU agreed to remove import duties on US industrial goods in return for tariffs of 15 per cent on most EU...