The European Parliament holds an emergency meeting to re-evaluate the trade agreement with the United States

Brussels, February 21 / WAM / The Trade Committee of the European Parliament called for an emergency meeting next Monday to re-evaluate the trade agreement with the United States after the US Supreme Constitutional Court’s decision to invalidate a large part of the global customs duties imposed by President Donald Trump on more than 100 countries, including European countries.

During the meeting, Parliament is seriously considering whether it is possible to proceed with the implementation of the trade agreement concluded with the United States in its current form or whether American judicial changes require a complete review of its terms.

Parliamentary and European sources indicate that the Supreme Court’s decision is viewed in Brussels as an opportunity to reset trade relations with Washington, but at the same time it raises fears that President Trump’s administration will continue to use unilateral customs tools as a means of political pressure.

Although the European Union did not officially announce its complete abandonment of the agreement, the European Parliament had suspended its ratification process since last January and froze discussions within the International Trade Committee, which reflects a state of anticipation and caution towards any new American step.

According to Maroš Šefčovič, the European Union Commissioner for Trade and Economic Security, the Union must be prepared to activate alternative legal tools, including the possibility of challenging the agreement before the European Court of Justice, which may cause a significant delay in its entry into force or open the door to renegotiating its terms.

In parallel, the European Commission is conducting a legal and economic assessment of the repercussions of the American court’s decision, especially since the unilateral cancellation of duties changes the trade balance on which the agreement was based, while studying the possibility of resuming or amending the package of retaliatory measures against the United States if President Trump returns to the policy of unilateral tariffs.

It is expected that the European Union will link any new path to the trade agreement with clear guarantees that customs duties will not be used as a means of political pressure in the future, which means that the trade agreement file with Washington is practically turning into a “frozen and under re-evaluation” file, with Brussels retaining multiple options between amending it, freezing it longer, or heading towards legal measures that may delay or reshape it.

-secret-.

• For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Related