BRUSSELS: The European Union will suspend its two packages of countermeasures to US tariffs for six months following a deal with US President Donald Trump, a Commission spokesperson said on Monday (Aug 4).
The EU-US agreement leaves many questions open, including tariff rates on spirits, and Trump’s executive order last week setting tariffs on most EU goods at 15 per cent did not include carve-outs such as for cars and car parts.
EU officials have said they expect more executive orders to follow soon.
“The EU continues to work with the US to finalise a Joint Statement, as agreed on 27 July,” the spokesperson said in a statement.
“With these objectives in mind, the Commission will take the necessary steps to suspend by 6 months the EU’s countermeasures against the US, which were due to enter into force on 7 August.”
The retaliatory tariffs are in two parts: One in response to US steel and aluminium duties, and the other to Trump’s baseline and car tariffs.
Source: CNA
