The European Union's parliament has approved its version of a trade deal with the U.S., but not before it added stipulations designed to protect the bloc should the U.S. violate the agreement.

According to The New York Times, the deal approved by the European Parliament on March 26 would eliminate tariffs on American machine parts, equipment, raw materials and select agricultural products. In exchange, the U.S. would keep tariffs on the majority of European goods at 15%. The proposed agreement also includes an amendment that would nullify the deal in the event the Trump administration enacts new tariffs against the EU.

"This mandate makes clear that parliament will not endorse any agreement without firm guarantees," said European Parliament Chair Bernd Lange in a news release. "Our approach is built on a multi-layered safety net, with clear conditions, enforcement tools, and the possibility to suspend the deal if the U.S. fails to comply."

However, the deal voted on by parliament still has a ways to go before it can be finalized. Negotiations will next start with member states and the EU's executive arm in mid-April. From there, it'll need approval from ambassadors representing the 27 nations of the bloc, although the predominant belief is that the agreement will make it through those final stages untouched, given that parliament represented the biggest hurdle. 

In a statement released after parliament's vote, U.S. Ambassador to the EU Andrew Puzder praised the bloc's lawmakers.

"I commend members of parliament who voted in favor of implementing the historic U.S.-EU Framework Agreement on Trade," Puzder said. "You made the right decision for citizens on both sides of the Atlantic."