The International Trade Committee of the European Parliament held an extraordinary meeting on Monday to discuss the implications of the US Supreme Court's ruling against Trump's tariffs on trade between Europe and the United States. Following this, the Members of the European Parliament (MEPs) voted to suspend the implementation process of the trade agreement between the EU and the US. MEP Zeljana Zovko from the right-wing PPE party highlighted that the suspension will last until the Commission can clarify the new customs tariff conditions proposed by President Trump.

The trade agreement, which was concluded in July after intense negotiations between Brussels and Washington, aimed to significantly mitigate the tariffs imposed by the US on European products, capping them at 15%. This was a notable reduction from the 30% tariffs that President Trump initially announced. The International Trade Committee was supposed to make a decision on the implementation of this agreement on Tuesday, ahead of a plenary vote scheduled for the following month.

This development raises questions about the future of transatlantic trade relations, particularly in light of the recent shifts in tariff policies. The postponement signifies a cautious approach by EU lawmakers, as they seek to navigate the complexities of international trade amid economic uncertainties influenced by US policies. The outcome of this situation could have broader implications for both European and American businesses relying on transatlantic commerce, especially if new tariffs come into full effect without a suitable agreement being reached.