The European Union (EU) wants to continue to promote low tariffs after the verdict of the US Supreme Court against the aggressive customs policy of President Donald Trump. TASR informs about it based on the report of the DPA agency.
The European Commission (EC) is in close contact with the US government to find out how Washington will react to the decision, its spokesman said on Friday. “Companies on both sides of the Atlantic need stability and predictability in business relationships. That’s why we continue to push for low tariffs and work to reduce them.” the spokesman said.
Trump suffered a Supreme Court defeat in a dispute over his aggressive tariff policy. Ten ruled that the president exceeded his powers when he invoked the Emergency Economic Measures Act to impose sweeping tariffs on several trading partners, including the EU. Trump’s team has already announced in advance that in case of losing in court, it will look for other legal support in order to continue with the current customs policy.
German MEP Bernd Lange said the decision will also affect the trade agreement the EU and the US signed in the summer. “Since much of the so-called reciprocal tariffs rest on a legal basis that is already in question, neither the US government nor the European Union can simply revert to the status quo,” said the head of the European Parliament’s trade committee. On Monday (February 23), he called an extraordinary meeting of the negotiation and legal team of the parliament.
The agreement provides for duty-free import of American industrial products into the EU. In return, the US pledged to limit tariffs on most EU imports to a maximum of 15%, leading to reduced tariffs on cars, for example.
