EU Lawmaker Proposes Delay on US Trade Deal Vote Amid Tariff Instability - PRESS AI WORLD
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EU Lawmaker Proposes Delay on US Trade Deal Vote Amid Tariff Instability

share-iconPublished: Sunday, February 22 share-iconUpdated: Sunday, February 22 comment-icon1 hour ago
EU Lawmaker Proposes Delay on US Trade Deal Vote Amid Tariff Instability

Credited from: CHANNELNEWSASIA

  • EU lawmaker Bernd Lange advocates for delaying a vote on the EU-US trade deal.
  • Recent US Supreme Court ruling led to increased uncertainty in US tariffs.
  • The European Commission demands that the US adhere to previously agreed tariff rates.

A senior EU lawmaker, Bernd Lange, has proposed postponing a planned vote on the EU-US trade deal, citing significant changes in the agreement's terms and legal basis following the US Supreme Court's ruling that invalidated several tariffs imposed by President Trump. This ruling has led Trump to establish a temporary tariff increase from 10% to 15%, creating "tariff chaos," according to Lange, which has raised uncertainty for the EU and other US trading partners. This situation has prompted calls for clarity and legal certainty before advancing with the deal, according to Channel News Asia and Reuters.

In the wake of these developments, the European Commission has emphasized the importance of the US honoring its commitments under the trade agreement established last year, which includes a maximum US tariff of 15% on most EU goods. In a statement, the Commission highlighted, "A deal is a deal," reinforcing the expectation that the US will provide full clarity on its intended actions following the Supreme Court's verdict. Concerns about tariff unpredictability disrupting international markets have also been raised, according to Le Monde and Reuters.

The European Parliament's trade committee is expected to discuss these developments soon, as Lange and other members seek a reassessment of the legislative progress of the deal until there is a thorough legal analysis and clear commitments from the US side regarding the tariff situation. This underscores a critical moment for transatlantic trade relations amid growing tensions and unpredictability in tariff policies, according to Reuters, Le Monde, and Channel News Asia.

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