EU Demands US Adhere to Trade Deal Amid New Tariffs

The International===European Commission has demanded that the United States adhere to the terms of a trade deal reached last year, following the United States===Supreme Court of the United States' decision to strike down Donald Trump's global tariffs. In response to the ruling, Donald Trump imposed new temporary tariffs of 10%, which he then increased to 15%. The International===European Commission views this as a breach of the existing agreement, which set a 15% tariff ceiling for most European Union goods and allowed zero tariffs on certain products. EU officials, including Maroš Šefčovič, have engaged with US Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick to seek clarity. The International===European Parliament's trade committee, led by Bernd Lange, has put the ratification of the EU-US deal on hold, citing 'tariff chaos' and the need for legal certainty. Analysts at ING Group suggest these new tariffs might be a tactic to buy time for other trade policy options. The situation creates significant unpredictability for global markets and international supply chains.