After the U.S. Supreme Court ruled last week that former President Trump had no authority to impose reciprocal tariffs, Trump quickly proposed an alternative 15% tariff plan. However, the European Union has grown impatient with the U.S.’s unpredictable trade policies. On the 22nd, the EU firmly demanded that the Trump administration honor the trade agreement reached last year, emphasizing that “an agreement is an agreement.” On the 23rd, reports emerged that the EU intends to freeze the approval process for the agreement and has requested additional details from the U.S. government.

According to Bloomberg, major political groups in the European Parliament indicated that the legislative procedure to approve the U.S. trade agreement, originally scheduled for the 23rd, will be postponed. Zeliana Zovko, the European People’s Party (EPP) lead trade negotiator for the U.S. agreement, stated, “We have no choice” but to delay the approval process in order to gain a clearer understanding of the situation.

The European Commission issued a statement on the 22nd, saying, “The current situation is not conducive to achieving the ‘fair, balanced, and reciprocal’ transatlantic trade and investment goals outlined in last year’s joint declaration on the trade agreement.”

(Source: Economic Daily News)