The EU is delaying retaliatory tariffs on U.S. goods, in hopes of reaching a deal by Aug. 1
BRUSSELS — The EU will suspend retaliatory tariffs on U.S. goods scheduled to take effect Monday in hopes of reaching a trade deal with the Trump administration by the end of the month.
″This is now the time for negotiations,″ European Commission President Ursula von der Leyen told reporters in Brussels on Sunday, after U.S. President Donald Trump sent a letter announcing new tariffs of 30 per cent on goods from the EU and Mexico starting Aug. 1.
The EU — America's biggest trading partner and the world's largest trading bloc — had been scheduled to impose ″countermeasures″ starting Monday at midnight Brussels time (6 p.m. EDT). The EU negotiates trade deals on behalf of its 27 member countries.
Von der Leyen said those countermeasures would be delayed until Aug. 1, and that Trump's letter shows ″that we have until the first of August″ to negotiate. European leaders have urged Trump and von der Leyen to give negotiations more time.
″We have always been clear that we prefer a negotiated solution,″ she said. If they can't reach a deal, she said that ″we will continue to prepare countermeasures so we are fully prepared.″
Standing alongside Indonesian President Prabowo Subianto, von der Leyen said the trade tensions with the U.S. show the importance of ''diversifying our trade relationships.''
Trump has said his global tariffs would set the foundation for reviving a U.S. economy that he claims has been ripped off by other nations for decades. Trump in his letter to the European Union said the U.S. trade deficit was a national security threat.
U.S. trade partners have faced months of uncertainty and on-and-off threats from Trump to impose tariffs, with deadlines sometimes extended or changed. The tariffs could have ramifications for nearly every aspect of the global economy.
The value of EU-U.S. trade in goods and services amounted to 1.7 trillion euros (US$2 trillion) in 2024, or an average of 4.6 billion euros a day, according to EU statistics agency Eurostat. Europe's biggest exports to the U.S. were pharmaceuticals, cars, aircraft, chemicals, medical instruments and wine and spirits.
Trade ministers from EU countries are scheduled to meet Monday to discuss trade relations with the U.S., as well as with China.
The Associated Press
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Article content The European Union will suspend retaliatory tariffs on U.S. goods scheduled to take effect Monday in hopes of reaching a trade deal with the Trump administration by the end of the month. Article content ″This is now the time for negotiations,″ European Commission President Ursula von der Leyen told reporters in Brussels on Sunday, after President Donald Trump sent a letter announcing new tariffs of 30 per cent on goods from the EU and Mexico starting Aug. 1. Article content Article content Article content The EU — America's biggest trading partner and the world's largest trading bloc — had been scheduled to impose ″countermeasures″ starting Monday at midnight Brussels time (6 p.m. EDT; 22:00 GMT). The EU negotiates trade deals on behalf of its 27 member countries. Article content Von der Leyen said those countermeasures would be delayed until Aug. 1, and that Trump's letter shows ″that we have until the first of August″ to negotiate. Article content ″We have always been clear that we prefer a negotiated solution,″ she said. If they can't reach a deal, she said that ″we will continue to prepare countermeasures so we are fully prepared.″ Article content A 30% tariff on EU exports would hurt businesses, consumers and patients on both sides of the Atlantic. We will continue working towards an agreement by August 1. At the same time, we are ready to safeguard EU interests on the basis of proportionate countermeasures. — Ursula von der Leyen (@vonderleyen) July 12, 2025 Article content Article content Europe's biggest exports to the U.S. are pharmaceuticals, cars, aircraft, chemicals, medical instruments and wine and spirits. Article content Italian Foreign Minister Antonio Tajani was heading to Washington for talks Monday with the U.S. administration and Congress. In a statement, Tajani's office said that in his talks with EU allies before the meetings, he stressed the need to 'negotiate with one's head held high.' Article content The right-wing government of Premier Giorgia Meloni, the only EU leader to attend Trump's inauguration, has sought to position itself as a ' bridge' between Brussels and Washington. Article content Trump has said his global tariffs would set the foundation for reviving a U.S. economy that he claims has been ripped off by other nations for decades. Trump, in his letter to the EU, said the U.S. trade deficit was a national security threat.
