Trade legislation between the European Union and the US: legislative work has been halted following a decision by the US Supreme Court.
The editorial office reports that Bernd Lange, Chairman of the European Parliament's Committee on International Trade and standing rapporteur for the US, issued the following statement. Following a meeting of the committee's shadow rapporteurs (i.e., representatives of political groups), Bernd Lange (S&D, DE) stated: "The decision of the United States Supreme Court of February 20, 2026, regarding the application of the International Emergency Economic Powers Act (IEEPA) is clear and unambiguous. Its consequences must be taken into account, and operating as before is not an option. The primary instrument used by the US to negotiate and implement the Turnberry Agreement is no longer available.
The situation is now more uncertain than ever. This is contrary to the stability and predictability we wanted to achieve with the Turnberry Agreement. Section 122, proposed as a replacement for IEEPA, applies to all countries exporting to the US without distinction and is added to the Most Favored Nation (MFN) rate. As a result, imports from the EU to the US will be subject to an applied rate exceeding the 15% threshold. This, in itself, is a clear departure from the terms of the Turnberry Agreement.
The shadow rapporteurs, representing the majority of members, have agreed to suspend work on the two Turnberry documents until clarity, stability, and legal certainty are restored in EU-US trade relations under the current circumstances. Consequently, the votes planned for tomorrow in committee will not take place, and the shadow rapporteurs will re-evaluate the situation next week."