EU Puts Trade Deal With US on Hold Over Trump’s Greenland Tariff Threat

The European Parliament decided today to suspend its work on the European Union's trade deal with the U.S. until President Trump's tariff threats on European allies were green. It's certainly clear that there was a breaking of the government deal by President Trump announcing 10% tariff on European goods starting with the 1st of February and 25% if Greenland is not going to the United States in June. Therefore, we will hold on. The procedure is required until there is a clarity regarding Greenland's threats. It will be normally quite clear until the threats are over. There will be no possibility of compromise until the threats are over. Bernd Lange, Chair of Parliament's Trade Committee, said on social media that EU-U.S. deal on ice indefinitely. The EU trade deal was reached in July after European Commission President Ursula von der Leyen met Trump in Thurnberry, Scotland. Much of the agreement was put into effect before it was formally signed. The deal called for 15% tariffs on European Union goods entering the U.S. That rate was among the lowest given to any trading partner likely. Some EU goods would have faced no tariffs, including generic pharmaceuticals. It is unclear whether the full trade agreement is now off. It is also unclear if parts already in place will remain. Some measures may continue even if others do not.