The European Union is set to temporarily freeze the ratification process of its trade agreement with the United States, as concerns grow over President Donald Trump’s new tariff program, Bloomberg News has reported.
Zeljana Zovko, the key trade negotiator for the European People’s Party group, stated in an interview that the EU has ‘no other option’ but to hold off on ratification. The delay is crucial to gain a clearer understanding of the ramifications of the U.S. tariff program.
The European People’s Party, the largest in the European Parliament, underscores the importance of ensuring clarity on the tariff situation before proceeding further with the trade deal, highlighting the significance of these diplomatic negotiations on a global commerce scale.
(With inputs from agencies.)