The European Union has decided to postpone the implementation of planned retaliatory tariffs in its trade dispute with the United States until early August. European Commission President Ursula von der Leyen announced the decision Sunday in Brussels.
“The United States has communicated to us a letter outlining measures that would take effect should a negotiated solution not be found” von der Leyen stated. “Therefore, we will extend the suspension of our countermeasures until early August while simultaneously preparing further measures, ensuring we are fully prepared.
The move comes in response to President Donald Trump’s announcement of impending tariffs on imports from the European Union, scheduled to take effect on August 1st. These tariffs would amount to 30 percent on certain goods.
Beyond addressing the immediate dispute, the EU is also actively pursuing a diversification of its trade relationships. A political agreement reached Sunday regarding a free trade agreement with Indonesia was highlighted as a significant step in this endeavor. Von der Leyen described the agreement as a “major milestone” indicating a commitment to exploring new and open markets.
Finally, the European Commission also emphasized the importance of strengthening the EU’s internal market. “This is our safe harbor” von der Leyen added, signaling a focus on bolstering the economic resilience within the bloc itself.
