EU Extends US Tariff Suspension, Pushing for Trade Deal Ahead of August Deadline
EU Extends US Tariff Suspension, Pushing for Trade Deal Ahead of August Deadline
The European Union has once again extended its suspension of retaliatory tariffs against the United States, signaling a continued push for a negotiated resolution to the escalating trade dispute. European Commission President Ursula von der Leyen announced on Sunday that the countermeasures, originally set to begin on Tuesday and targeting €21 billion worth of US goods, will now be postponed until early August.
This extension comes in the wake of a letter from US President Donald Trump, who threatened 30% tariffs on EU imports starting August 1, vowing further escalation if the EU retaliates. Von der Leyen emphasized the EU’s preference for a diplomatic solution, stating, “We will use the time that we have now till August 1.”
Despite the suspension, the EU remains prepared to implement its countermeasures should negotiations fail. EU trade ministers are scheduled to meet in Brussels today, Monday, to strategize their response to the intensifying transatlantic trade tensions. The move underscores a critical period for EU-US relations, with both sides seeking to avert a full-blown tariff war while maintaining readiness for potential economic fallout.
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