EU delays retaliatory trade tariffs against US
Summary
The European Union has postponed its planned counter-tariffs on US goods, originally set to begin on Tuesday, after a letter from US President Donald Trump mentioned imposing new tariffs on EU imports. European Commission President Ursula von der Leyen stated this pause will last until early August, allowing time for negotiations.Key Facts
- The EU delay affects retaliatory measures on €21 billion worth of US goods over earlier US steel and aluminium tariffs.
- US President Trump plans to impose 30% tariffs on EU imports starting from August 1, 2023.
- The EU's suspension of tariffs was first put in place in March and has now been extended until early August.
- EU trade ministers will meet to discuss their response to the US tariffs.
- Trump warned of increasing tariffs beyond 30% if the EU imposes counter-tariffs.
- The EU prefers negotiating a solution, but is preparing countermeasures for future use.
- German and French officials emphasized the need to defend European trade interests while seeking solutions.
- The US has proposed tariff conditions affecting 24 countries, including the EU.
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