In an effort to facilitate dialogue with the United States regarding looming tariffs, the European Commission has delayed its retaliatory measures aimed at U.S. exports, European Commission President Ursula von der Leyen confirmed during a recent press conference.
EU Postpones Retaliatory Tariffs on U.S. Exports Amidst Ongoing Negotiations
EU Postpones Retaliatory Tariffs on U.S. Exports Amidst Ongoing Negotiations
The European Commission extends the suspension of tariffs on U.S. goods originally set for implementation, seeking a diplomatic resolution.
The European Union has decided to postpone its retaliatory tariffs on U.S. goods that were scheduled to commence on Tuesday in response to President Donald Trump's steel and aluminum import taxes. This delay pushes the countermeasures, which could have affected approximately €21 billion worth of U.S. products, to early August. President von der Leyen announced the decision on a Sunday press call, emphasizing the EU's preference for negotiation, as Trump's administration had recently proposed 30% tariffs on EU imports slated for August 1.
The delay follows a communication from Trump, indicating that any retaliatory action from the EU would prompt further increases in U.S. tariffs. EU trade ministers will convene in Brussels on Monday to strategize their approach in light of these developments. Concerns about protecting jobs and businesses in Europe were echoed by German Finance Minister Lars Klingbeil, while French President Emmanuel Macron called for strong advocacy of European interests. The U.S. administration's ambitious trade goals, aiming for numerous agreements, remains a topic of discussion as negotiations continue with various countries, including the EU.
