The stability of transatlantic trade faced renewed strain on February 23, 2026, as the European Union and the United Kingdom called for “clarity and continuity” from the United States following a shift in U.S. tariff policy. Over the weekend, the Trump administration announced a new 15% global import duty under Section 122 of the Trade Act of 1974, citing balance-of-payments concerns, according to a fact sheet released by The White House (2026). The move followed a recent ruling by The Supreme Court of the United States that affected aspects of the administration’s earlier tariff framework, prompting Washington to adopt a revised legal mechanism. The announcement has heightened concerns in Europe about potential trade escalation and the future of previously negotiated tariff arrangements.
In Brussels, the European Commission reiterated the principle of pacta sunt servanda, emphasizing that trade agreements should remain binding despite domestic legal developments. According to reporting by Digital Journal (2026), EU officials stated that they expect the United States to honor existing commitments and provide “full clarity” on how the 15% duty will interact with prior joint statements that set specific tariff ceilings on European industrial goods. EU Trade Commissioner Sabine Weyand indicated that any departure from agreed terms could prompt proportionate rebalancing measures, potentially affecting sensitive U.S. exports.
In London, the British government signaled that it is intensifying discussions with Washington to safeguard its post-Brexit trade position. Reporting by AJ Bell (2026) noted that UK officials are seeking to reinforce the U.S.-UK Economic Prosperity Deal and clarify whether British exports will receive exemptions from the broader 15% duty. British representatives have emphasized the depth of bilateral security and economic ties, while indicating a willingness to continue negotiations in areas such as digital trade and agricultural access.
Financial markets reflected the uncertainty, with heightened volatility reported across major indices as investors assessed the risk of retaliatory measures. According to The Japan Times (2026), Section 122 permits the President to impose temporary import surcharges for up to 150 days in response to serious balance-of-payments concerns. Analysts cited in that report suggested that the administration’s reliance on this provision may serve as an interim policy tool while broader legal and trade questions are addressed. However, trading partners have raised questions about the predictability of U.S. trade policy amid the evolving legal landscape.
With the 15% duty scheduled to take effect on February 24, the immediate diplomatic response from Brussels and London will be closely watched. While U.S. officials maintain that the measure is designed to stabilize economic conditions, European and British leaders continue to press for assurances that previously negotiated arrangements will remain intact. The outcome of these discussions may shape the trajectory of transatlantic economic relations throughout 2026.
Sources
https://www.japantimes.co.jp/business/2026/02/21/economy/trump-global-tariffs-supreme-court-ruling/
https://www.ajbell.co.uk/news/articles/uk-says-seeking-best-deal-possible-uk-firms-over-us-tariffs
