EU Agrees to Suspend Tariffs on US Goods for Six Months

The European Union has announced it will pause its two sets of retaliatory tariffs against US goods for six months following an agreement with US President Donald Trump, according to a spokesperson from the European Commission.

Despite the deal, several details remain unresolved, including the specific tariff rates on spirits. Notably, Trump’s recent executive order imposing a 15% tariff on most EU products did not exempt items such as cars and car parts. EU officials anticipate further executive orders from the United States soon.

"The EU is continuing discussions with the United States to finalize a Joint Statement agreed upon on July 27," the spokesperson said. To support these efforts, the Commission will proceed with suspending the EU’s countermeasures for six months. These tariffs were initially scheduled to take effect on Aug. 7.

The EU’s countermeasures include two components: one targeting US steel and aluminum tariffs, and another addressing Trump’s baseline and automobile tariffs.