EU Postpones Retaliatory Tariffs on US Imports Amid Ongoing Trade Tensions

The European Union has announced a further delay in implementing retaliatory tariffs on US exports, extending the suspension until early August. European Commission President Ursula von der Leyen revealed the decision on Sunday, emphasizing that the additional time will be used to pursue a negotiated solution to ongoing trade tensions.

The EU's planned countermeasures, which target €21 billion worth of US goods, were initially introduced in response to tariffs imposed by former US President Donald Trump on steel and aluminum imports. Originally set to take effect on Tuesday, the retaliatory tariffs were first suspended in March and have now been pushed back again.

This decision follows a letter from Trump to von der Leyen, in which he outlined plans to impose 30% tariffs on EU imports starting August 1. Trump warned that any retaliatory measures from the EU would prompt him to raise tariffs even higher. In a pre-recorded interview with Fox News aired on Saturday, Trump defended his tariff policies, claiming they have brought "hundreds of billions of dollars" into the US economy, despite causing frustration among trading partners.

Von der Leyen stated, "The United States has sent us a letter with measures that would come into effect unless there is a negotiated solution, so we will therefore also extend the suspension of our countermeasures until early August. At the same time, we will continue to prepare for the countermeasures so we're fully prepared."

She reiterated the EU's preference for a negotiated resolution, adding, "We have always been very clear that we prefer a negotiated solution. This remains the case, and we will use the time that we have now till August 1."

EU trade ministers are scheduled to meet in Brussels on Monday to discuss their approach to dealing with Washington. Germany's Finance Minister Lars Klingbeil emphasized the need for "serious and solution-oriented negotiations" with the US but warned that if talks fail, the EU must take "decisive countermeasures to protect jobs and businesses in Europe."

French President Emmanuel Macron also urged the European Commission to "resolutely defend European interests" in the face of Trump's tariff threats. The Trump administration has proposed tariff conditions on 24 countries and the EU, which comprises 27 member states. White House trade adviser Peter Navarro previously set a goal of securing "90 deals in 90 days," with two preliminary agreements already announced with the UK and Vietnam.

As trade tensions persist, the EU remains committed to finding a diplomatic resolution while preparing to defend its economic interests if necessary.