EU lawmakers again postpone vote on US trade deal after Trump’s 15%

EU lawmakers again postpone vote on US trade deal after Trump’s 15%

The European Parliament determined on Monday to postpone for a second time a vote on the European Union’s trade deal with the United States after President Trump’s imposition of a new blanket 15% import tariff.

The EU meeting has been debating legislative proposals to take away many EU import duties on US items, a key a part of the deal struck in Turnberry, Scotland, last July, in addition to to continue zero duties for US lobsters, initially agreed with Trump in 2020. The proposals require approval by the parliament and EU governments.

Parliament’s trade committee has now postponed a vote deliberate for Tuesday. Bernd Lange, the committee chair, said the new short-term US tariff may imply elevated levies for some EU exports and nobody knew what would occur after they expire in 150 days. 

The European Parliament determined on Monday to postpone for a second time a vote on the European Union’s trade deal  after President Trump’s imposition of a new blanket 15% import tariff. A container port in Frankfurt, Germany, above. Getty Images

EU lawmakers will reconvene on March 4 to evaluate if the United States had clarified the scenario and confirmed its dedication to last 12 months’s deal.

This is the second such suspension by lawmakers, who last month halted their work on the deal in protest at Trump’s calls for to purchase Greenland.

Many lawmakers have complained that the deal itself is lopsided. However, they’d appeared prepared to simply accept it, albeit with circumstances, such as an 18-month sundown clause and measures to reply to potential surges of US imports.

The trade deal units a 15% US tariff fee for most EU items, other than those coated by other sectoral tariffs such as on metal, with zero tariffs on some merchandise such as plane and spare elements. The EU dedicated to take away import duties on many US items.

It isn’t clear whether or not Trump’s new 15% tariff supersedes the deal. If it does, the EU’s zero tariff exemptions may disappear.

It isn’t clear whether or not Trump’s new 15% tariff supersedes a earlier deal. If it does, the EU’s zero tariff exemptions may disappear. Kyle Mazza/Shutterstock

The new tariffs may also be positioned on top of pre-existing ‘most-favored-nation’ US duties, which isn’t the case under the EU-US deal. So for some cheeses, the new 15% surcharge may convey the total tariff to about 30%.

Lange said this may imply some 7-8% of EU merchandise dealing with tariffs above the charges agreed last 12 months.

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