BRUSSELS: The European Union has announced a temporary postponement of its planned tariffs on US imports, extending the deadline to early August in hopes of resolving a brewing trade dispute through negotiations. The move follows the United States’ decision to impose 30 percent tariffs on EU goods starting 1 August.
European Commission President Ursula von der Leyen confirmed that the US had formally communicated its tariff decision in writing. Despite this, the EU has chosen to keep its countermeasures on hold temporarily to allow room for a negotiated solution.
“We are not standing idle,” von der Leyen said. “The EU will continue preparing our response while giving diplomacy one last opportunity.” She noted that the bloc is willing to talk but ready to act if talks fail.
The EU’s planned counter-tariffs are expected to target US exports worth up to €21 billion (US$24.5 billion), including a wide range of agricultural and industrial goods. Analysts say that the economic impact could be significant for transatlantic trade if both sides follow through with their tariffs.
The decision to delay was made ahead of a key meeting of EU trade ministers in Brussels on Monday, where the bloc’s next steps will be discussed in light of Washington’s confirmed action. It remains unclear whether the ministers will back von der Leyen’s pause, or press for immediate retaliation.
The tariff dispute stems from longstanding trade tensions, which escalated after Washington accused the EU of trade imbalances and subsidy violations. Talks between the two sides have so far failed to yield a comprehensive agreement.
As the early August deadline looms, diplomats hope the delay will provide a window for fresh proposals and mutual concessions that could avoid a new transatlantic trade war.
