Trade agreement between the EU and the US hangs in the balance

The European Parliament is considering freezing the trade agreement between the EU and the US after President Donald Trump threatened to impose tariffs on countries supporting Greenland, Bloomberg reports.

Manfred Weber, leader of the largest faction in the European Parliament, the EPP, said that under these circumstances, approval of the agreement is not possible. The agreement, concluded by Ursula von der Leyen in an effort to prevent a trade war, has already been partially implemented but is still awaiting full approval.

After Trump's threat of 10-25 percent tariffs on European goods if the US does not allow the purchase of Greenland, resistance is growing in the EU.

Critics argue that last year's trade agreement is more advantageous for the US and are calling for the activation of the Anti-Coercion Instrument (ACI), which would allow Europe to respond with retaliatory measures.

(mja)