Trade

EU Sees US Tariffs Breaking Deal Limit on €4.2 Billion of Goods

US Trade Representative Jamieson Greer says President Donald Trump will sign a supplemental proclamation to increase the tariff level to 15% “where appropriate,” as the US seeks “continuity” on tariffs. Greer also discusses expectations for the UK and European Union to honor their existing trade deals and the Trump administration wanting to fix gaps in the trade deal with Canada and Mexico.Source: Bloomberg

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By Alberto Nardelli and Jorge Valero

February 25, 2026 at 5:08 PM UTC

President Donald Trump’s new tariff program will leave about €4.2 billion ($5 billion) of European Union exports facing levies above the 15% ceiling agreed in the EU-US trade accord.

Trump’s new policy will increase duties above the maximum allowed level on European exports including cheese, butter, some agricultural products as well as several plastics, textiles and chemicals, according to people familiar with the EU’s assessment of the rates.