logo
EU suspends tariffs retaliation after Trump trade deal

EU suspends tariffs retaliation after Trump trade deal

Al Arabiya15 hours ago
The EU announced Tuesday the suspension of its retaliatory tariffs on US goods worth 93 billion euros ($107 billion) after Brussels struck a deal with Washington last month.
'The commission has today adopted the necessary legal procedures to suspend the implementation of our EU countermeasures, which were due to kick in on August 7,' EU trade spokesman Olof Gill said.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Trump Says He Will Meet China's Xi If a Trade Deal Is Struck
Trump Says He Will Meet China's Xi If a Trade Deal Is Struck

Asharq Al-Awsat

time5 hours ago

  • Asharq Al-Awsat

Trump Says He Will Meet China's Xi If a Trade Deal Is Struck

President Donald Trump said on Tuesday the US was close to a trade deal with China and that he would meet his Chinese counterpart Xi Jinping before the end of the year if an agreement is struck. "He asked for a meeting, and I'll end up having a meeting before the end of the year most likely, if we make a deal. If we don't make a deal, I'm not going to have a meeting," Trump told CNBC in an interview referring to China's Xi. "We're getting very close to a deal. We're getting along with China very well," Trump said. Treasury Secretary Scott Bessent said last week he believed the US had the "makings of a deal" with China after officials from the two countries met in Stockholm in a bid to resolve economic disputes aimed at extending their truce on a trade war by three months. China is facing an August 12 deadline to reach a durable tariff agreement with the US administration, after Beijing and Washington reached preliminary deals in May and June to end escalating tit-for-tat tariffs and a cut-off of rare earth minerals. Without a deal, global supply chains could face renewed turmoil from US duties snapping back to triple-digit levels that would amount to a bilateral trade embargo. Speaking to CNBC, Trump also said his administration would soon impose tariffs on US imports of pharmaceuticals, semiconductors and chips, which is expected to impact China.

Zelenskiy Spoke with Trump Ahead of Peace Deal Deadline
Zelenskiy Spoke with Trump Ahead of Peace Deal Deadline

Asharq Al-Awsat

time8 hours ago

  • Asharq Al-Awsat

Zelenskiy Spoke with Trump Ahead of Peace Deal Deadline

Ukrainian President Volodymyr Zelenskiy said on Tuesday that he had had a "productive" conversation with his US counterpart Donald Trump on ending the war, sanctions on Russia and the finalization of a US-Ukraine drone deal. Trump, who has signaled frustration with Vladimir Putin in recent weeks, has given the Russian president until August 8 to make peace in Ukraine or face tougher sanctions. "President Trump is fully informed about Russian strikes on Kyiv and other cities and communities," Zelenskiy wrote on X, referring to intensifying drone and missile attacks. Trump has threatened to hit Russia with new sanctions and impose 100% tariffs on countries that buy its oil, but sources close to the Kremlin told Reuters that Putin was unlikely to bow to the ultimatum. Zelenskiy said Ukraine was also ready to conclude a deal with the US on the purchase of Ukrainian drones that would amount to "one of the strongest agreements". He had earlier said the deal was worth around $30 billion. Ukraine is increasingly seeking financing and investment from its foreign partners to bolster its burgeoning domestic arms industry. Zelenskiy said Kyiv's European partners had so far pledged to buy more than $1 billion in US weapons for Ukraine as part of a new scheme.

Zelenskyy speaks with Trump ahead of Putin ceasefire deadline
Zelenskyy speaks with Trump ahead of Putin ceasefire deadline

Al Arabiya

time9 hours ago

  • Al Arabiya

Zelenskyy speaks with Trump ahead of Putin ceasefire deadline

Ukrainian President Volodymyr Zelenskyy said on Tuesday that he had had a 'productive' conversation with his US counterpart Donald Trump on ending the war, sanctions on Russia and the finalization of a US-Ukraine drone deal. Trump, who has signaled frustration with Vladimir Putin in recent weeks, has given the Russian president until August 8 to make peace in Ukraine or face tougher sanctions. For the latest updates on the Russia-Ukraine war, visit our dedicated page. 'President Trump is fully informed about Russian strikes on Kyiv and other cities and communities,' Zelenskyy wrote on X, referring to intensifying drone and missile attacks. Trump has threatened to hit Russia with new sanctions and impose 100 percent tariffs on countries that buy its oil, but sources close to the Kremlin told Reuters that Putin was unlikely to bow to the ultimatum. Zelenskyy said Ukraine was also ready to conclude a deal with the US on the purchase of Ukrainian drones that would amount to 'one of the strongest agreements.' He had earlier said the deal was worth around $30 billion. Ukraine is increasingly seeking financing and investment from its foreign partners to bolster its burgeoning domestic arms industry. Zelenskyy said Kyiv's European partners had so far pledged to buy more than $1 billion in US weapons for Ukraine as part of a new scheme.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store