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.
- On July 14, 2025, Italian Foreign Minister Antonio Tajani announced the EU has prepared a €21 billion tariff package on U.S. goods if trade negotiations fail.
- This comes after several weeks of failed negotiations and U.S. President Donald Trump's announcement that starting August 1, a 30% tariff will be applied to goods entering the United States from both the European Union and Mexico.
- European leaders, including Tajani and German Chancellor Friedrich Merz, urged progress to avoid a damaging trade war and pledged close collaboration to ease tensions.
- Tajani emphasized that tariffs negatively impact all parties involved, beginning with the United States, while European Trade Commissioner Maros Sefcovic cautioned that imposing a 30% tariff could nearly halt trade between the regions.
- The EU has decided to prolong its pause on retaliatory tariffs against U.S. goods until the beginning of August, seeking to encourage a negotiated agreement; however, it may impose an additional round of tariffs if talks fail.
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