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The EU is delaying retaliatory tariffs on U.S. goods, in hopes of reaching a deal by Aug. 1
BRUSSELS, BELGIUM, JUL 14 – The European Union delays tariffs worth 21 billion euros to avoid escalating trade tensions and seeks a negotiated agreement before August 1, amid US threats of 30% tariffs.
- On Sunday, European Commission President Ursula von der Leyen announced the EU will postpone retaliatory tariffs until early August, seeking a last-minute trade deal with Washington.
- Since January, President Trump has introduced erratic tariff measures, leading the EU to postpone retaliatory tariffs until early August to allow for negotiations, as Brussels seeks a resolution.
- Eurostat data shows EU-U.S. trade valued at 1.7 trillion euros in 2024, indicating high economic stakes, and `We have always been clear that we prefer a negotiated solution,` said Ursula von der Leyen, adding urgency to talks.
- In Brussels, EU trade ministers will gather on Monday to assess Washington’s move and determine the EU’s negotiating strength, said Lars Klingbeil, German Finance Minister.
- With the August 1 deadline looming, Antonio Tajani stated that the EU remains open to negotiations and will respond with substantial tariffs if a deal fails, European Union officials said.
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