Ursula von der Leyen indicates the bloc expects a negotiated resolution to trade tensions. The European Union has put off retaliatory tariffs on US exports as officials rush to negotiate a trade agreement with Washington before US President Donald Trump’s August 1 deadline.
European Commission President Ursula von der Leyen stated on Sunday that the bloc would continue to extend its suspension of countermeasures while negotiations with the Trump administration are ongoing.
Simultaneously, we will go on preparing for the countermeasures, so we’re well-prepared,” von der Leyen told a news conference in Brussels. We have always been very clear that we prefer a negotiated outcome,” she added.
This is still true, and we will make use of the time that we have currently until the 1st of August. The EU announced Trump’s reveal on Saturday that he would impose a 30 per cent tariff on European and Mexican exports from August 1.
The EU in March also announced that it would impose retaliatory tariffs on 26 billion euros ($30bn) of US exports due to Trump’s duties on steel and aluminium. The bloc suspended the steps for 90 days the next month following Trump’s declaration that he would postpone the application of his so-called “reciprocal tariffs”.
The EU suspension was set to last until midnight on Monday. EU trade ministers are due to meet in Brussels on Monday to debate possible responses to Trump’s new tariff threats. These tariffs are very real if the president does not receive a deal that he believes is acceptable, but, you know, talks continue, and we shall see where the dust settles,” Hassett said on ABC News’s This Week.
Combined, the EU member states are the US’s biggest trading partner. US-EU trade in goods and services totalled 1.7 trillion euros ($2 trillion) in 2024, as per the EU statistics agency Eurostat.
