EU Halts Trade Deal Proceedings with U.S.

The European Union plans to halt the ratification of its trade agreement with the U.S., demanding details from President Trump's administration on a new tariff program, as reported by Bloomberg News. The report could not immediately be verified by Reuters.

The European Union is set to pause the ratification process of its trade agreement with the United States, pushing for further information about the latest tariff scheme implemented by President Donald Trump's administration, according to Bloomberg News.

Bloomberg revealed that the EU's decision comes as the bloc seeks clarity and transparency from U.S. officials on the new tariff program's specifics, which could significantly impact trade relations.

Reuters has not yet independently corroborated the Bloomberg report, but the implications of a potential freeze indicate growing trade tensions between the EU and the U.S.

(With inputs from agencies.)