EU Urges Trump to Honor Trade Deal

By Irina Slav - Feb 23, 2026

The European Commission has called on President Trump to stick to a trade deal the two sealed last summer, which features a commitment on the part of the EU to buy $250 billion worth of U.S. energy annually for a period of three years.

Separately, the European Parliament is considering a freeze of the deal in response to Trump’s latest tariff announcement.

Last week, the U.S. Supreme Court struck down Trump’s tariffs, ruling that the Constitution does not hand taxing authority to the executive branch. The ruling cancels the 10%-plus blanket tariffs rolled out since April 2025 and undercuts the emergency rationale used to target Mexico, Canada, China, the EU, and others.

In response to the Supreme Court ruling, the U.S. president announced global tariffs of 10%, which on Saturday he raised to 15%, prompting a strong-worded response from the European Commission.

“The current situation is not conducive to delivering 'fair, balanced, and mutually beneficial' transatlantic trade and investment, as agreed to by both sides” in last year’s deal, the Commission said. “A deal is a deal.”

Last August, the United States and the European Union finalized a trade framework that committed Europe to up to $750 billion in U.S. energy purchases by 2028, while capping most tariffs at 15%. The arrangement elevated American LNG, oil, and refined fuels in Europe’s energy supply mix. To date, the U.S. is the largest supplier of liquefied natural gas to the European Union.

As part of the deal, the EU negotiators agreed to facilitate long-term contracts with U.S. exporters so utilities and traders can secure volumes under national procurement rules. In exchange, Washington said it would grant tariff-free access for a broad slate of industrial goods, including machinery, chemicals, and energy-related equipment.

In its latest statement, the European Commission urged the U.S. federal government to provide “full clarity” on what steps it intended to take in response to the Supreme Court ruling, Reuters reported.

By Irina Slav for Oilprice.com