U.S. President Donald Trump meets with European Fee President Ursula von der Leyen, in Turnberry, Scotland, Britain, July 27, 2025.
Evelyn Hockstein | Reuters
The European Union introduced Monday that it’ll droop for six months its deliberate countermeasures in opposition to the USA’ tariffs, which which had been set to take impact this week.
“On 27 July 2025, European Fee President Ursula von der Leyen and US President Donald J. Trump agreed a deal on tariffs and commerce,” the EU Fee spokesperson for commerce stated in a press release.
The spokesperson touted the settlement as restoring “stability and predictability for residents and companies on each side of the Atlantic.”
“The EU continues to work with the US to finalise a Joint Assertion, as agreed on 27 July,” the spokesperson stated.
“With these targets in thoughts, the Fee will take the mandatory steps to droop by 6 months the EU’s countermeasures in opposition to the US, which had been because of enter into power on 7 August.”
The pause on the countermeasures is anticipated to formally take impact Tuesday.
The White Home didn’t instantly reply to CNBC’s request for touch upon the European Union announcement.
The delay represents a concession from one of many United States’ largest buying and selling companions, following weeks of negotiations between Trump and von der Leyen.
Trump final month introduced a commerce cope with the EU that included 15% tariffs on most European items to the U.S., together with cars.
As a part of the deal, the White Home stated that the EU “will take away important tariffs, together with the elimination of all EU tariffs on U.S. industrial items exported to the EU.”
Trump additionally stated that the 27-member bloc agreed to purchase $750 billion price of U.S. vitality and make investments an extra $600 billion price of investments into the U.S. above present ranges.
But it surely’s not clear who, precisely, would make these investments, or how. The financial bloc doesn’t have the authority to power personal firms to purchase U.S. oil or American grain.
An EU assertion on the July deal additionally careworn that it was a political settlement, and “not legally binding.”
“Past taking the instant actions dedicated, the EU and the US will additional negotiate, consistent with their related inside procedures, to totally implement the political settlement,” the assertion stated.
The announcement comes in the beginning of one other huge week for Trump’s commerce agenda.
After weeks of shifting deadlines, Trump final week once more pushed again the beginning date for brand new tariff charges to take impact.
Tariffs on greater than 60 nations are set to enter place on Aug. 7, after he pushed the date again from Aug. 1.
