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| Photograph Credit score: Reuters
The European Parliament selected Monday (February 23, 2026) to postpone for a second time a vote on the European Union’s commerce take care of the US after U.S. President Donald Trump’s imposition of a brand new blanket 15% import tariff.
The EU Meeting has been debating legislative proposals to take away many EU import duties on U.S. items, a key a part of the deal struck in Turnberry, Scotland, final July, in addition to to proceed zero duties for U.S. lobsters, initially agreed with Mr. Trump in 2020. The proposals require approval by the Parliament and EU governments.
Parliament’s Commerce Committee has now postponed a vote deliberate for Tuesday (February 24, 2026). Bernd Lange, the Committee chair, mentioned the brand new short-term U.S. tariff may imply elevated levies for some EU exports, and nobody knew what would occur after they expire in 150 days. EU lawmakers will reconvene on March 4 to evaluate if the US has clarified the scenario and confirmed its dedication to final yr’s deal.
That is the second such suspension by lawmakers, who final month halted their work on the deal in protest at Mr. Trump’s calls for to amass Greenland. Many lawmakers have complained that the deal itself is lopsided. Nevertheless, that they had appeared keen to just accept it, albeit with circumstances, corresponding to an 18-month sundown clause and measures to reply to potential surges of U.S. imports.
The commerce deal units a 15% U.S. tariff price for many EU items, aside from these lined by different sectoral tariffs corresponding to on metal, with zero tariffs on some merchandise corresponding to plane and spare elements. The EU dedicated to take away import duties on many U.S. items.
It isn’t clear whether or not Mr. Trump’s new 15% tariff supersedes the deal. If it does, the EU’s zero tariff exemptions may disappear. The brand new tariffs may additionally be positioned on prime of pre-existing ‘most-favoured-nation’ U.S. duties, which isn’t the case below the EU-U.S. deal. So for some cheeses, the brand new 15% surcharge may carry the general tariff to about 30%.
Mr. Lange mentioned this might imply some 7-8% of EU merchandise going through tariffs above the charges agreed final yr.
Printed – February 23, 2026 09:40 pm IST