EU Lawmakers Pause on EU-U.S. Trade Deal Discussions
The EU has delayed legislative proposals related to the EU-U.S. trade deal, as lawmakers express concerns about the perceived imbalance in tariff reductions. While the U.S. maintains a 15% rate, the EU considers cuts, sparking debates on fairness and potential legislative amendments.
EU lawmakers have hit the brakes on legislative proposals linked to the EU-U.S. trade deal, confirmed Jorgen Warborn, a center-right European People's Party member in the EU assembly, on Wednesday.
The delay comes as the EU assembly reviews several proposals, including eliminating many import duties on U.S. goods, a pivotal aspect of the agreement forged in Turnberry, Scotland, last July. These measures also maintain zero duties for U.S. lobsters. However, the parliament and EU governments must approve them.
Concerns have arisen among lawmakers who find the trade deal imbalanced. While the EU is expected to remove most import duties, the U.S. retains a significant 15% rate. Although previously open to accepting the deal under specific conditions such as an 18-month sunset clause, lawmakers are now reconsidering their stance.
ALSO READ
-
EU Firms Navigate U.S. Tariffs but Face Internal Market Hurdles
-
Germany Predicts Stable U.S. Tariffs on EU
-
Suspending US-EU trade deal could have 'serious consequences' for German economy, VDA says
-
EU Trade Deal with U.S. on Hold Amid Tariff Uncertainty
-
Tariff Turbulence: U.S. Tariffs Shake Stock Markets Amid Investor Skepticism
Google News