European Commission President Ursula von der Leyen emphasizes the EU’s preference for a negotiated resolution to trade disputes.
The European Union has decided to postpone the imposition of retaliatory tariffs on goods originating from the United States. This move is part of an ongoing effort to negotiate a trade agreement with Washington and avoid escalation by the August 1 deadline set by US President Donald Trump.
Ursula von der Leyen, President of the European Commission, has announced that the EU will continue the suspension of its counter-tariffs during these negotiation talks with the Trump administration.
“At the same time, we’re gearing up for the possibility of retaliatory measures, just in case,” von der Leyen stated at a news briefing in Brussels.
She underscored that the EU’s preference has consistently been for a negotiation-based solution.
”That is still our stance, and we intend to utilize the time we have until August 1 to its fullest.
The EU’s decision follows Trump’s recent declaration to impose a 30 percent tariff starting August 1 on imports from Europe and Mexico.
In March, the EU had proposed retaliatory tariffs on €26 billion ($30bn) worth of US exports as a reaction to Trump’s tariffs on steel and aluminum.
Following Trump’s announcement to delay his “reciprocal tariffs,” the EU put the retaliatory measures on hold for 90 days, which was set to end this Monday.
EU trade ministers will meet in Brussels on Monday to confer on potential responses to Trump’s new tariff threats.
White House Economic Adviser Kevin Hassett stated on Sunday that Trump is dissatisfied with the preliminary proposals for deals offered by US trading partners, indicating that these proposals will need to be improved.
“The tariffs will indeed be enforced if the president doesn’t receive a deal that satisfies him, but discussions are still in progress, so we’ll just have to wait and see how it unfolds,” Hassett commented on ABC News’s This Week.
Overall, the EU member countries constitute the US’s most significant trading partner.
In 2024, trade between the US and the EU in terms of goods and services reached €1.7 trillion ($2 trillion), according to Eurostat, the statistical office of the EU.
Ursula von der Leyen, President of the European Commission, has announced that the EU will continue the suspension of its counter-tariffs during these negotiation talks with the Trump administration.
“At the same time, we’re gearing up for the possibility of retaliatory measures, just in case,” von der Leyen stated at a news briefing in Brussels.
She underscored that the EU’s preference has consistently been for a negotiation-based solution.
”That is still our stance, and we intend to utilize the time we have until August 1 to its fullest.
The EU’s decision follows Trump’s recent declaration to impose a 30 percent tariff starting August 1 on imports from Europe and Mexico.
In March, the EU had proposed retaliatory tariffs on €26 billion ($30bn) worth of US exports as a reaction to Trump’s tariffs on steel and aluminum.
Following Trump’s announcement to delay his “reciprocal tariffs,” the EU put the retaliatory measures on hold for 90 days, which was set to end this Monday.
EU trade ministers will meet in Brussels on Monday to confer on potential responses to Trump’s new tariff threats.
White House Economic Adviser Kevin Hassett stated on Sunday that Trump is dissatisfied with the preliminary proposals for deals offered by US trading partners, indicating that these proposals will need to be improved.
“The tariffs will indeed be enforced if the president doesn’t receive a deal that satisfies him, but discussions are still in progress, so we’ll just have to wait and see how it unfolds,” Hassett commented on ABC News’s This Week.
Overall, the EU member countries constitute the US’s most significant trading partner.
In 2024, trade between the US and the EU in terms of goods and services reached €1.7 trillion ($2 trillion), according to Eurostat, the statistical office of the EU.
