The United States must stick to the trade agreement it has concluded with the European Union, which was negotiated last year as a consequence of President Donald Trump's increase in US tariffs. The European Commission said this in a statement on Sunday, according to Reuters.
The announcement comes after the US Supreme Court on Friday declared Trump's increased tariffs illegal, prompting Trump to announce a new global tariff of ten percent, which was raised to 15 percent on Saturday.
- The current situation does not contribute to "fair, balanced and mutually beneficial" transatlantic trade and investment, as both parties have agreed, the European Commission writes.
The Commission refers to the content of the trade agreement between the EU and the US.
- An agreement is an agreement, it continues.
The trade agreement between the EU and the US set a tariff of 15 percent on most goods exported from the EU to the US market.
Certain product groups such as steel were imposed higher tariffs, while tariffs were removed on aircraft and spare parts, among others. The EU also removed import duties on most US goods and withdrew its threats of higher tariffs on US products.
- In particular, EU products must continue to benefit from the most competitive treatment without any increases in tariffs exceeding the clear and comprehensive ceiling previously agreed, writes the EU Commission.
Unpredictability in tariff policy undermines confidence
The Commission adds that unpredictability in tariff policy is disruptive and undermines confidence in global markets.
The EU's Trade Commissioner, Maros Sefcovic, discussed the matter with US trade negotiator Jamieson Greer and US Commerce Secretary Howard Lutnick on Saturday.
When the US President imposed punitive tariffs with varying rates on 2 April last year, he did so with reference to the International Emergency Economic Powers Act (IEEPA).
The act was made with for the purpose of handling national emergencies, but according to the US Supreme Court, it does not give the president the authority to impose increased tariffs.
Trump imposed the punitive tariffs when he believed that the US trade deficit with a large number of countries constituted an emergency.
The EU countries were then hit with a 20 percent tariff, while goods from several other countries were imposed higher tariffs. Among other things, the tariff on goods from China was raised to 34 percent on April 2, 2025, and later exceeded 100 percent.
/ritzau/
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