European Commission President Ursula von der Leyen announced a delay in the EU's proposed retaliatory tariffs against the US, initially scheduled for implementation, as both sides navigate complex trade challenges introduced by US President Donald Trump.
EU Postpones Response to US Trade Tariffs Amid Negotiations
EU Postpones Response to US Trade Tariffs Amid Negotiations
The European Commission pauses retaliatory tariffs against the US set for next week, optimizing for potential negotiations.
In a recent press conference, von der Leyen stated that the EU will delay its retaliatory tariffs on US goods, originally set to take effect on Tuesday. This decision was made in light of ongoing negotiations following Trump's announcement of a forthcoming 30% tariff on EU imports, which will take effect on August 1 unless a resolution is reached.
The EU's planned countermeasures, which would impact approximately €21bn worth of US exports, were first put on hold in March. Von der Leyen clarified that this suspension would be extended until early August, emphasizing the EU’s commitment to seeking a negotiated solution. "The United States has sent us a letter regarding measures that will arise unless negotiations yield results, prompting our decision to postpone the countermeasures accordingly," she said.
Furthermore, the European Commission anticipates a meeting among EU trade ministers in Brussels to deliberate their strategic response to Trump's tariff proposals. German Finance Minister Lars Klingbeil recently underscored the necessity of "serious and solution-oriented negotiations," asserting that failure to reach an agreement would compel the EU to implement strong countermeasures to safeguard European jobs and businesses.
French President Emmanuel Macron has echoed Klingbeil’s sentiments, encouraging the European Commission to firmly advocate for European interests in these negotiations. Notably, Trump’s administration has broader tariff proposals affecting 24 countries, as delineated by White House trade adviser Peter Navarro, who aims to finalize "90 deals in 90 days," with ongoing negotiations between the US, the UK, and Vietnam.
As the situation continues to evolve, the EU remains poised to act decisively should the discussions with the US fail to yield a favorable outcome.
The EU's planned countermeasures, which would impact approximately €21bn worth of US exports, were first put on hold in March. Von der Leyen clarified that this suspension would be extended until early August, emphasizing the EU’s commitment to seeking a negotiated solution. "The United States has sent us a letter regarding measures that will arise unless negotiations yield results, prompting our decision to postpone the countermeasures accordingly," she said.
Furthermore, the European Commission anticipates a meeting among EU trade ministers in Brussels to deliberate their strategic response to Trump's tariff proposals. German Finance Minister Lars Klingbeil recently underscored the necessity of "serious and solution-oriented negotiations," asserting that failure to reach an agreement would compel the EU to implement strong countermeasures to safeguard European jobs and businesses.
French President Emmanuel Macron has echoed Klingbeil’s sentiments, encouraging the European Commission to firmly advocate for European interests in these negotiations. Notably, Trump’s administration has broader tariff proposals affecting 24 countries, as delineated by White House trade adviser Peter Navarro, who aims to finalize "90 deals in 90 days," with ongoing negotiations between the US, the UK, and Vietnam.
As the situation continues to evolve, the EU remains poised to act decisively should the discussions with the US fail to yield a favorable outcome.
