💨 Abstract

The European Union (EU) has decided to suspend retaliatory tariffs on U.S. goods, initially set to commence on Monday, to facilitate negotiations with the Trump administration by the end of July 2025. This decision follows President Donald Trump's announcement of 30% tariffs on goods from the EU and Mexico starting August 1. EU Commission President Ursula von der Leyen emphasized the importance of ongoing negotiations, suggesting a preference for a negotiated solution over immediate countermeasures.

Courtesy: WTOP Staff