(Feb 24) : A European Union assessment found that US President Donald Trump’s new tariff policy will increase levies on some of the bloc’s exports, including cheese and some agricultural products, above the level permitted in their trade agreement. The new cumulative rate means some goods would be above the 15% ceiling the EU and US agreed to in their trade deal. The new global tariffs can stay in place for as many as 150 days. The European Parliament suspended legislative work on approving the EU-US accord on Monday, requesting clarity on Trump’s new trade policy. Both sides have indicated they want to stick to the trade deal but it’s still unclear how they will be able to do this — and how quickly, some of the people said.

Source: The Edge Markets February 23, 2026 22:55 UTC