Europe to Suspend Approval of U.S. Tariffs Deal

EUROPE – The European Parliament is preparing to suspend approval of a U.S.–EU tariffs deal agreed last July, a move set to be announced Wednesday in Strasbourg.

The decision would mark a further escalation in tensions with the United States, as President Donald Trump threatens new tariffs amid his push to acquire Greenland.

The standoff has rattled global markets, with stocks falling on both sides of the Atlantic and the U.S. dollar sliding against the euro and the pound.

EU lawmakers say approval is not possible at this stage, warning retaliatory tariffs could take effect as early as Feb. 7 unless the deal is approved or extended.

Washington has cautioned Europe against retaliation, as both sides face growing fears of a renewed trade war.