European Parliament Delays Vote on US Trade Agreement Following Supreme Court Ruling

On Monday, the European Parliament announced a postponement of the vote regarding a trade agreement with the United States, originally set for February 24. This decision follows a pivotal ruling by the US Supreme Court on Friday, which deemed most tariffs imposed under former President Donald Trump as illegitimate. The ruling raises significant uncertainty regarding the future of the agreement, which was signed last July between Ursula von der Leyen, the President of the European Commission, and Trump. German MEP Bernd Lange, the rapporteur overseeing the agreement process, communicated that while the vote has been postponed, another meeting is scheduled for the following week, indicating that a revised vote is likely to occur afterward. The terms of the trade agreement include a 15 percent tax on goods exported from the EU to the US, while maintaining no tariff on US goods imported into European markets. However, the Supreme Court's decision has cast doubt on these tariffs due to their controversial introduction via an emergency law known as IEEPA, rather than the customary Congressional approval. According to the justices, the president's authority to impose such tariffs in this manner is not supported by the law, thus raising concerns over their legitimacy and future applicability. In the wake of this ruling, Trump reacted swiftly, announcing the implementation of new tariffs of 10 percent on all countries, which he later indicated would increase to 15 percent, effective February 26. This backdrop of uncertainty comes amid a previous suspension of the agreement's ratification in January by the European Parliament, which was a response to Trump's decision to levy tariffs on countries for deploying troops to Greenland, a territory the US administration has shown ambitions of annexing. The ethical and strategic implications of the trade agreement and the nature of the tariffs suggest a complex relationship between the US and EU that merits close scrutiny as political developments continue to unfold. Related Sources: • Source 1 • Source 2