EU trade head says US has given assurance it will honour trade deal

Mr Maros Sefcovic received assurances from his American counterparts Read more at straitstimes.com.

TORONTO – European Union Commissioner for Trade and Economic Security Maros Sefcovic said on March 5 that he believed the US would respect the terms of the trade deal signed with the EU in 2025, after receiving assurances from his American counterparts.

“I believe that the United States will honour the deal because this was the reassurance I got from my American partners,” he said.

President Donald Trump’s executive order from February, after the Supreme Court struck down most of his global tariffs, imposed a 10 per cent tariff on imports. But US Treasury Secretary Scott Bessent said on March 4 that those rates would likely rise to 15 per cent later this week.

Mr Trump and European Commission President Ursula von der Leyen concluded a deal at the former’s Turnberry golf course in Scotland in July 2025, which set a broad 15 per cent US tariff for most EU exports.

However, unlike the tariff terms of the EU-US trade deal, the new surcharge applies in addition to the most-favoured-nation rate, meaning some EU exports could face higher tariffs than before.

Mr Sefcovic’s remarks came in Toronto, Canada where he signed an agreement with Canada’s Trade Minister Maninder Sidhu to expand trade ties and ease trade rules under their existing pact as countries across the world strive to increase non-US trade.