The European Union (EU) announced on Tuesday that it would suspend its retaliation tariffs for US goods worth EUR 93 billion ($ 107 billion) after Brussels concluded an agreement with Washington last month.
“The Commission today has adopted the necessary legal procedures to suspend our countermeasures by the EU, which were to be launched on August 7,” AFP said, quoting EU commercial spokesman Olof Gill.
The trade war turned away
The European Commission, which is in charge of trade policy for a 27-Hurry block, created a list of American goods that need to be focused if the agreement with the US did not reach the deadline of 1 August 2025.
These countermeasures were designed to focus on a number of American exports, from soybeans to plane, car and whiskey. This step was a reaction to the threat of steep tariffs from the US.
However, the President of the European Commission Ursula von der Leyen won 27 July.
At first sight
Upon agreement, EU exploration to the US will now face 15 % of the tariff, starting on August 8, 2025. Although it is significantly higher than the customs duties than Trump returned to the White House, the tariff that President Trump previously threatened.
The purpose of the new tariff rate, which applies to most of the goods, is to ensure stability for businesses on both sides, AFP said.
Future outlook
The EU official noted that both parties are currently working to develop details of the leadership agreement, and more information about the agreement is expected “very, very soon”.
The official also warned: “But Brussels can always release his retaliation if something unexpected happens.”
“We put it back in the freezer, and if necessary, we can always remove it so that we can always suspend no matter,” AFP announced, quoting an EU official.
(Tagstotranslate) European Union
