US EditionThe 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 postponed $24.5 billion in retaliatory tariffs to allow more time for trade talks with the U.S. amid risks to nearly $1 trillion in bilateral trade, officials said.
- Late Sunday, European Commission President Ursula von der Leyen said countermeasures would be suspended until Aug. 1, to allow negotiations with Trump.
- Earlier, President Donald Trump threatened global tariffs intermittently, claiming they would set the foundation for reviving a U.S. economy he said was 'ripped off' by other nations.
- Trade Commissioner Maros Sefcovic said Brussels drafted a 72 billion euros package, conditional on talks failing, as the EU prepares retaliatory measures against the US.
- On Wednesday, EU ministers insisted, `If you hold anything back, you are not strengthening your hand in negotiations`, Laurent Saint-Martin said.
- Looking ahead, the European Union is accelerating efforts to diversify trade ties, preparing trade summits with China, Mexico and Mercosur, as EU negotiations extend until August 1.
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486 Articles
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