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By: Fiona Cincotta, Senior Market Analyst
U.S. tariffs are placing Europe and American firms under renewed strain as of February 2026, with the policy direction still unresolved. A 10% global tariff has taken effect following a Supreme Court setback that delayed a proposed 15% rate, heightening uncertainty around the durability of the EU-U.S. trade framework. The European Parliament has paused legislative work on approving the EU-U.S. agreement while it seeks clarity on whether tariff levels could breach existing commitments. This evolving tariff regime is already influencing pricing power, corporate strategy and cross-border trade expectations.
Fiona Cincotta, StoneX Senior Market Analyst, analyses global macro policy shifts and their transmission into equity and currency markets. Her experience tracking trade policy volatility and investor positioning provides direct insight into how renewed U.S. tariffs are affecting Europe, corporations and consumers in real time.
U.S. tariffs are raising legal and political tension within the European Union as lawmakers reassess the stability of the EU-U.S. trade agreement. Fiona Cincotta explains that the 10% levy took effect "rather than the 15% rate announced by the US president over the weekend, following a setback at the US Supreme Court", creating a temporary reprieve but not resolving uncertainty. The European Union assessment suggests that higher tariff levels could exceed thresholds permitted under the existing agreement, prompting the European Parliament to pause legislative approval. Consequently, the EU-U.S. trade framework now faces renewed scrutiny, which may affect export competitiveness and cross-border investment planning.
U.S. tariffs are also creating operational and financial strain for American corporations and households. Cincotta notes that "U.S. states and businesses are demanding tariff refunds, with FedEx among the major companies suing the administration", highlighting rising legal resistance to the policy. While larger firms may pursue litigation to recover costs, smaller businesses could struggle to absorb or reclaim tariff expenses, increasing margin compression across sectors. As a result, American consumers are unlikely to benefit from full cost pass-through, meaning the tariff burden may persist in pricing structures even if rates remain at 10% rather than escalating to 15%.
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--- Written by Frédéric Guétin, StoneX TV Producer
--- Expert: Fiona Cincotta, StoneX Senior Market Analyst
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