European Union to suspend tariff countermeasures against US for six months
The announcement comes after Washington and Brussels announced a trade deal late last month.
Donald Trump and Ursula von der Leyen
European Union trade spokesman Olof Gill said Monday that the bloc will suspend measures it had prepared in response to the tariffs announced by Donald Trump on "Liberation Day," according to European media reports.
The measures, estimated at more than $100 billion, would have phased in beginning Aug. 7 if the two trading partners did not reach an agreement. However, Trump and European Commission President Ursula von der Leyen agreed on a new trade deal just over a week ago.
As part of the agreement, the United States will impose a 15% tariff on most European products, half of the previously announced 30% tariff. Among other provisions, the European Union pledged to buy $750 billion in energy and $600 billion in U.S. military equipment.
The European spokesman specified that the countermeasures will be suspended for six months, and that he expected the bloc to adopt the measure on Tuesday. He also maintained that representatives of both allies continue to work on parts of the agreement.
The world in the face of Trump's tariffs
After the deadline, Trump modified the percentage of tariffs on products from a dozen countries, such as Syria (41%), Switzerland (39%) and Canada (35%). He also delayed the date they took effect again, this time until Aug. 7.
The reactions were varied, between celebrations, complaints and calls for renegotiation. China was among those who protested most vigorously, assuring that it was "consistently and clearly" opposed to the measure. "There is no winner in a tariff war or a trade war."
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