The European Union has decided to postpone the implementation of previously announced retaliatory tariffs in its trade dispute with the United States until early August. European Commission President Ursula von der Leyen announced the decision on Sunday in Brussels.
“The United States has communicated to us a letter outlining measures that would take effect should a negotiated solution not be found” von der Leyen stated. “Therefore, we will extend the suspension of our countermeasures until early August, while simultaneously continuing to prepare further measures, ensuring we are fully prepared.
Alongside the postponement, the EU is actively pursuing diversification of its trade relationships. Von der Leyen highlighted a political agreement reached on Sunday regarding a free trade agreement with Indonesia, describing it as “a major milestone” that demonstrates the EU’s search for new, open markets.
The Commission President also emphasized the importance of strengthening the EU’s internal market, stating it serves as a “safe harbor.
The announcement follows a recent declaration by U.S. President Donald Trump on Saturday, who announced tariffs on imports from the European Union amounting to 30 percent. These tariffs were slated to take effect on August 1.