EU Pauses US Trade Deal After Trump Announces 15 Percent Global Tariff

The European Parliament on Feb. 23 suspended the ratification process of the U.S.-European Union trade deal, after President Donald Trump announced a 15 percent global tariff following the Supreme Court's decision to strike down his emergency tariffs.

Bernd Lange, chairman of the European Parliament's International Trade Committee, said in a statement that the Feb. 20 ruling by the Supreme Court had implications for the proposed trade deal and that a "key instrument" used by the United States to initially strike the Turnberry Deal in Scotland last year is "no longer available."

"The situation is now more uncertain than ever. This runs counter to the stability and predictability we sought to achieve with the Turnberry Deal," Lange said.

The Supreme Court last week invalidated the reciprocal tariff framework imposed by Trump under the International Emergency Economic Powers Act, prompting the Trump administration to look at alternative legal avenues.

Following the ruling, Trump announced a 10 percent global tariff under Section 122 of the Trade Act of 1974 before increasing it to 15 percent on Feb. 21 following a detailed review of the court’s decision.
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