Global Trade Uncertainty Following US Tariff Ruling: Cautious Steps from EU and Asia

Washington Affirms Commitment to Trade Agreements US Trade Representative Jamieson Greer announced that trade agreements with key partners, including China, the European Union, and South Korea, will remain in effect following the Supreme Court's decision on customs duties.
Greer also noted that the average 40 percent tariff applied to China remains in place, as it does not rely on the emergency law recently invalidated by the court.
In light of these developments, President Trump is scheduled to pay an official visit to China at the end of March.
EU May Suspend Approval Processes Despite Washington's efforts to reassure partners, uncertainty prevails within the European Union.
Bernd Lange, Chairman of the European Parliament's Committee on International Trade, announced that he would propose freezing the approval process for agreements with the US until the Trump administration's trade policies are clarified.
Describing the current situation as "customs chaos," Lange emphasized that predictability for trade partners has diminished.
Cautious Outlook in Asia and the Pacific Other major actors in the global trade network are also reviewing their positions following the legal rulings.
India has decided to postpone a planned visit to Washington intended to finalize trade talks, while Japan has characterized US customs policies as "turmoil." Japanese officials, particularly concerned about the potential impact of tariffs on the automotive sector, are monitoring the situation closely.
Meanwhile, South Korea maintains its expectation that the Supreme Court's decision will not directly disrupt comprehensive trade agreements.