EU Ministers Split as Support Grows for Ban on Trade With Israeli West Bank Settlements 
Iranian Missile Strike on UAE Oil Tankers Kills Indian Crew Member in Strait of Hormuz 
Russia Launches Missile and Drone Attacks on Kyiv, Zaporizhzhia, and Kharkiv 
UK Sanctions 24 Russian-Linked Targets Over Cyberattacks and Election Interference 
Trump Orders ICE to Resume Traffic Stops After Deadly Immigration Enforcement Incidents 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
Oil Prices Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
Trump Slams New York Data Center Ban, Warns AI Investment Could Shift to Other States 
European Stocks Slip as Middle East Tensions and Hormuz Threat Rattle Markets 
Reuters/Ipsos Poll: Most Americans Expect U.S.-Iran War to Be Prolonged 
Trump Tells Congress Iran Hostilities Restarted, Citing New 60-Day War Powers Window 
Trump Administration Bars U.S. Travelers From Congo Flights Amid Ebola Outbreak 
Asian Stocks Slide as Oil Surge, U.S.-Iran Tensions and Fed Rate Bets Weigh on Markets 
Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
Australian Business Conditions Hold Steady as Easing Cost Pressures Face New Oil Price Risks 
The European Commission has urged the United States to uphold the terms of last year’s EU-U.S. trade deal after the U.S. Supreme Court struck down former President Donald Trump’s global tariffs. The ruling prompted Trump to announce new temporary tariffs of 10% across the board, which were quickly increased to 15%, reigniting tensions in transatlantic trade relations.
As the executive body responsible for trade policy on behalf of the 27 European Union member states, the European Commission called on Washington to provide “full clarity” بشأن its next steps following the court’s decision. EU officials stressed that the current uncertainty threatens the stability of the transatlantic trade agreement reached last year.
Under the existing EU-U.S. trade agreement, most EU goods entering the U.S. market are subject to a 15% tariff, excluding products already covered by sector-specific duties, such as steel. The agreement also established zero tariffs on selected goods, including aircraft and spare parts. In return, the EU reduced or eliminated import duties on various American products and withdrew plans for retaliatory tariffs.
The Commission emphasized that EU exports must continue to receive the “most competitive treatment” outlined in the agreement, without any tariff increases beyond the agreed ceiling. Officials warned that unpredictable tariff policies disrupt global markets, weaken investor confidence, and undermine efforts to maintain fair, balanced, and mutually beneficial trade between the United States and the European Union.
The Commission’s latest statement marks a sharper tone compared to its initial response, which had indicated it was reviewing the Supreme Court ruling while maintaining contact with U.S. authorities. EU Trade Commissioner Maros Sefcovic discussed the matter with U.S. Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick, highlighting the urgency of preserving stable EU-U.S. trade relations amid renewed tariff uncertainty.
The situation underscores growing concerns over global trade stability and the future of transatlantic economic cooperation.
