European Union halts trade deal with the United States over new tariff policy

The European Union has suspended its approval of a major trade deal with the United States. This decision came after the United States announced new tariffs on imported goods, which the EU says breaks the terms of an existing trade agreement between the two regions.

In response, the European Parliament postponed a key vote on the deal. EU officials, including trade chief Maroš Šefčovič, have urged the United States to honor the existing agreement and provide clarity on its new tariff policy. Italian Prime Minister Giorgia Meloni called the new tariffs a mistake.

The EU expects the United States to ease the impact of the tariffs in the coming weeks. Some companies, like carmaker Aston Martin, have already announced job cuts, citing the new tariffs as a factor. The EU has stated it will not accept any increase in tariffs beyond what was previously agreed.