The EU is moving toward halting the tariff agreement . Bernd Lange, president of the European Parliament's International Trade Committee, will today " propose to the negotiating team that they suspend their work ."

The EU Commission, in a lengthy official statement, calls for transparency on the measures Washington intends to adopt and admits that the situation created by the Supreme Court's rejection "does not favor the terms of the agreement signed" at Turnberry. ECB President Christine Lagarde also calls for clarity: "It is crucial in trade."

The 15% tariffs unilaterally imposed by Donald Trump after the Supreme Court rejected the legal basis of his tariff policy not only harm Europe but—initially—violate the agreement signed in Scotland.

The U.S. Customs and Border Protection agency has announced that it will cease collecting tariffs imposed under the International Emergency Economic Powers Act (IEEPA) and declared illegal by the U.S. Supreme Court at 12:01 a.m. local time (6:01 a.m. CET) on Tuesday. This suspension coincides with Trump's imposition of a new 15% global tariff, under a different legal authority, replacing those struck down by the Supreme Court.

"The current situation is not conducive to achieving 'fair, balanced, and mutually beneficial' transatlantic trade and investment, as agreed by both sides in the EU-US Joint Statement. A deal is a deal. As the United States' largest trading partner, the EU expects the US to honor its commitments," the Brussels statement reads.

The tariff issue is also set to surface at the EU Foreign Ministers' meeting scheduled for the next few hours, which will see the participation of Antonio Tajani. Tajani will also participate in the G7 Trade meeting today and will chair the meeting of the tariffs task force this afternoon.

Donald Trump faces backlash at home: some polls show 60% disapprove of his actions on tariffs, inflation, and immigration.

(Unioneonline)

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