💨 Abstract

The European Union has delayed its trade countermeasures against the U.S. until early August to facilitate negotiations. The EU's president, Ursula von der Leyen, cited a U.S. threat to impose a 30% tariff on European goods if no deal is reached by August 1. The EU aims to prefer a negotiated solution and is prepared with additional countermeasures while diversifying its trade relationships.

Courtesy: WTOP Staff