The European Union has halted the imposition of tariffs on goods imported from the United States until early August.
This decision is taken despite America’s pledge to impose 30 per cent tariffs on products from the EU bloc.
European Commission President Ursula von der Leyen said that the United States had sent a letter defining measures that will take effect unless a negotiated solution is reached.
She said the EU would extend the suspension of its countermeasures until early August to discuss further negotiations.
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Von der Leyen’s announcement followed US President Donald Trump’s statement on Saturday where he said that 30 per cent tariffs on EU imports will take effect from August 1, despite ongoing talks.
According to local media reports, von der Leyen stressed that the EU will not remain passive and that the European Commission will continue preparing additional countermeasures in the coming weeks.
Previous information released by the European Union indicates that the planned countermeasures could effect US exports valued at EUR billion (USD 24.5 billion).
EU trade ministers are expected to meet in Brussels on Monday to discuss the next steps following the shift in Trump’s position over the weekend.
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It remains unclear whether the ministers will endorse von der Leyen’s decision to suspend the countermeasures to allow negotiations to continue until the August 1 deadline.
Earlier, France’s President Emmanuel Macron criticized Trump’s decision to impose 30 per cent tariffs on the European Union.
He said the European Block must “resolutely defend European interests.”
Adding that France offers a “very strong disapproval” of the decision, he said Europe must “step up the preparation of credible countermeasures by mobilising all instruments at its disposal” if its discussions with the US fail by August 1.
“France fully supports the European Commission in the negotiation that will intensify to reach a mutually acceptable agreement by August 1, so that it reflects the respect that trade partners such as the European Union and the United States owe each other,” he was quoted as saying on social media.
(Inputs From ANI)
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