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Risk Channel
North America
EU 'expects' U.S. to honor existing trade deal

The European Commission has said Washington must abide by the terms of the trade deal reached last year with the EU, after President Donald Trump announced new global tariff hikes a day after the Supreme Court struck down his sweeping "reciprocal" import duties. "A deal is a deal," said a commission statement. "As the United States' largest trading partner, the EU expects the U.S. to honor its commitments set out in the Joint Statement - just as the EU stands by its commitments," it added. "The European Commission requests full clarity on the steps the United States intends to take following the recent Supreme Court ruling on the International Emergency Economic Powers Act (IEEPA)."

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Risk Channel
UK/Europe
European Union hits pause on US trade deal

European Union officials are pausing work toward implementing their trade deal with the United States after the US Supreme Court on Friday struck down the main tariffs on which last year's agreement had been based. “We want to have clarity about the situation,” European Parliament trade committee chair Bernd Lange said Monday. “We want to have clarity from the US that they are respecting the deal because that’s a crucial element.” US President Donald Trump is today implementing a new global tariff at 10% rather than the 15% rate announced at the weekend after his defeat at the Supreme Court.

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