Brussels will delay countermeasures in opposition to US tariffs till early August, European Fee President Ursula von der Leyen has introduced. She confused that the EU goals to barter a commerce answer with its transatlantic accomplice.
On Saturday, US President Donald Trump unveiled plans to impose extra 30% tariffs on items from the EU and Mexico, as a part of his broader effort to deal with commerce imbalances with key companions. Scheduled to take impact on August 1, these tariffs could be utilized on prime of current sector-specific duties, such because the blanket 25% on metal, aluminum, and automobile imports launched earlier this yr.
On Sunday, von der Leyen confirmed that talks are ongoing with the White Home following Washington’s tariff announcement.
“We’ll due to this fact prolong the suspension of our countermeasures till early August. On the similar time, we’ll proceed getting ready additional countermeasures to make sure we’re at all times prepared,” she stated.
The primary bundle of EU countermeasures focusing on roughly $25 billion price of US metal and aluminum imports was suspended in April for 90 days to facilitate commerce discussions. This suspension was set to run out on Monday.
Von der Leyen has warned that the newly introduced US tariffs will disrupt very important transatlantic provide chains, adversely affecting companies and shoppers on each side of the Atlantic.
The EU is among the many US’ largest buying and selling companions. Nonetheless, years of considerable imports from the bloc, particularly of equipment, vehicles, prescription drugs, and luxurious items, have contributed to a major commerce hole. In 2024, the US commerce deficit with the EU reached over $235 billion.
Trump has accused the EU of unfair commerce practices, attributing the commerce imbalance to the bloc’s advanced regulatory framework. He has claimed the EU is sustaining “commerce boundaries, VAT taxes, extreme company penalties, non-monetary commerce restrictions, foreign money manipulation, and unjustified lawsuits in opposition to American firms.”
Trump campaigned on an ‘America First’ agenda and chopping the US commerce deficit. Since taking workplace, he has imposed tariffs on China, the EU, Canada, Mexico, and dozens of different commerce companions, straining relations with key US allies.
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