European Union to delay retaliation tariffs on US assets hoping to reach an agreement

The European Union will suspend the retaliation rates of the assets of the United States that were scheduled to enter into force on Monday. The EU hopes that it can reach a commercial agreement with the Trump administration by the end of the month.

“This is now the moment of negotiations,” said the president of the European Commission, Ursula von der Leyen, journalists in Brussels.

A day before, President Trump sent a Letter to the EU that announces new rates of 30% on goods as of August 1. In the letter, Trump said the relationship between the block and the United States has been “far from being reciprocal” and that the United States commercial deficit was a national security threat.

“We have had years to discuss our commercial relationship with the European Union, and we have concluded that we must get away from these long -term, large and persistent commercial deficits, generated by its rate and non -rate, policies and commercial barriers,” he wrote.

Trump sent a letter similar to Mexico.

The EU, the largest commercial partner of the United States and the largest commercial block in the world, had been scheduled to impose “countermeasures” from Monday at the time of the Midnight Brussels (6 pm est). The EU negotiates commercial agreements on behalf of its 27 member countries.

Von der Leyen said that these countermeasures would be delayed until August 1, and that Trump’s letter shows “that we have until August 1” to negotiate. European leaders have urged Mr. Trump and von der Ley to give more time to negotiations.

“We have always been clear that we prefer a negotiated solution,” he said. If they cannot get to a deal, she said that “we will continue to prepare countermeasures so that we are fully prepared.” “

Trump has said that his global tariffs would establish the basis for reliving an American economy that, according to him, has been scammed by other nations for decades. I was in a bombing advertisement of New tariffs with allies and enemies equally last week.

US business partners have faced months of uncertainty and intermittent threats from the president of the United States to impose tariffs, with sometimes extended or changed deadlines. Tariffs could have ramifications for almost all aspects of the global economy.

The value of the EU-E-EE goods and services. UU. Amounted to 1.7 billion euros ($ 2 billion) in 2024, or an average of 4,600 million euros per day, according to the EU Eurostat statistics agency. The largest exports from Europe to the United States were pharmaceutical products, cars, airplanes, chemicals, medical instruments and wine and liquors.

The trade ministers of the EU countries plan to meet Monday to discuss commercial relations with the United States, as well as with China.

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