Transatlantic Trade Turbulence: EU vs US Tariff Tussle

The European Union requests clarity from the US after the Supreme Court nullified some of Trump's tariffs. There's uncertainty over a 15% global tariff Trump proposed. EU may pause a trade deal ratification, amid European exports threatened by US tariff hikes, impacting significant transatlantic trade.

The European Union has urged the United States for clear communication and adherence to trade agreements following a US Supreme Court ruling that struck down several of President Donald Trump's tariffs. On Saturday, Trump advocated for a global tariff hike to 15%, having initially declared a 10% increase.

The European Commission expressed concern, noting the current situation disrupts the "fair, balanced, and mutually beneficial" framework outlined in the EU-US Joint Statement of 2025. A 15% tariff currently applies to 70% of European goods exported to the US, a deal brokered last year.

Amidst trade tensions, EU parliamentarian Bernd Lange suggested halting the ratification process of the current trade deal. The EU exports pharmaceuticals, cars, and more, while the US sends services and oil among others. The EU's Anti-Coercion Instrument looms as a potential response to protect the bloc's economic interests.