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The European Parliament has officially frozen the ratification process for the Turnberry Deal. On Wednesday, lawmakers opted to postpone critical committee votes, signaling a sharp rebuke of recent shifts in American trade policy. The move effectively stalls what was once hailed as a landmark agreement for transatlantic commercial stability.
The friction stems from a two-pronged shift in Washington. While the U.S. Supreme Court recently struck down broad tariffs under the International Emergency Economic Powers Act, the relief for European exporters was short-lived. The U.S. administration countered by implementing a 10 percent global import surcharge under Section 122 of the 1974 Trade Act.
European officials describe these new levies as a fundamental breach of the Turnberry Deal framework. By introducing these surcharges, the U.S. has subjected EU goods to higher combined duties than those agreed upon during last year’s negotiations. Furthermore, the threat of these surcharges escalating to 15 percent has introduced a level of fiscal volatility that Brussels finds unacceptable.
For the private sector, this legislative deadlock means a return to the drawing board. Multi-national corporations must now navigate a landscape where the Turnberry Deal provides no immediate protection against fluctuating border taxes. Until the U.S. offers concrete assurances on tariff ceilings, the path toward a unified transatlantic market remains blocked.
