The European Parliament’s trade committee on Friday called for an emergency meeting next Monday to reassess the trade deal between the European Union and the United States, following a US Supreme Court ruling invalidating most of the tariffs imposed by US President Donald Trump around the world.
The European Parliament’s trade committee was scheduled to vote on Tuesday to ratify the U.S.-EU deal, but it froze the vote after President Donald Trump threatened to annex Greenland and political tensions escalated within the bloc.
Trade Commission Chairman Bernd Lange said the U.S. Supreme Court’s decision was expected given the unsound legal basis for the allegedly unfair fees.
Meanwhile, the UK government had hoped that the preferential trade status it enjoys with the US would continue, as recent trade agreements between the two countries guaranteed the UK reciprocal tariffs of 10%, the lowest in the world.
The European Parliament’s trade committee on Friday called for an emergency meeting next Monday to reassess the trade deal between the European Union and the United States, following the US Supreme Court’s ruling overturning most of the global tariffs imposed by President Donald Trump.
The Trade Commission was scheduled to vote on Tuesday to move forward with the rating process for the U.S.-EU deal. But the commission froze the vote after President Trump threatened to annex Greenland, sparking political tensions in the region.
Trade Commission Chairman Bernd Lange said the U.S. Supreme Court’s decision was expected, given the unsound legal basis for the allegedly unreasonable tariffs.
Meanwhile, the UK government had hoped for a continuation of the preferential trading status it enjoys with the US, as recent trade agreements between the two countries ensure the UK’s reciprocal tariffs at 10% are among the lowest in the world.
