EU Suspends Counter-Tariffs on US Goods

EU Suspends Counter-Tariffs on US Goods

Six-Month Suspension Agreed

The European Union will suspend its two packages of countermeasures against U.S. tariffs for six months. This move comes after a recent agreement with U.S. President Donald Trump, a European Commission spokesperson confirmed on Monday.

Ongoing Uncertainty Over Tariff Details

Despite the temporary pause in the trade dispute, many key questions remain unanswered. Notably, Trump’s recent executive order, which imposed a 15% tariff on most EU goods, did not include exceptions for major EU exports such as cars and car parts. The tariff rates on specific items like alcoholic spirits also remain unclear.

More Executive Orders Expected

EU officials have warned that additional executive orders from the U.S. could be issued in the near future. These may further complicate trade negotiations between the two sides.

Joint Statement in Progress

“The EU continues to work with the U.S. to finalise a Joint Statement, as agreed on 27 July,” the Commission spokesperson said. This joint statement is expected to clarify future trade relations and tariff policies.

Retaliatory Measures on Hold

To maintain a constructive dialogue, the European Commission announced it will take steps to suspend the EU’s planned countermeasures by six months. These measures were originally scheduled to take effect on August 7.

Scope of the Retaliatory Tariffs

The EU’s counter-tariffs are structured in two parts:

• One package was introduced in response to U.S. tariffs on steel and aluminium.
• The second package targeted Trump’s broader tariff plan, including baseline duties and tariffs on automotive products.

“EU Suspends Counter-Tariffs on US Goods” “EU Suspends Counter-Tariffs on US Goods”