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EU holds off on U.S. tariff countermeasures for now to pursue talks

Reuters · New
Reuters
Reuters
New

The European Union said it would extend its suspension of countermeasures to U.S. tariffs until early August and continue to press for a negotiated settlement, after U.S. President Donald Trump ratcheted up his trade war on the bloc.

Breakdown
  • The EU is extending its suspension of countermeasures to U.S. tariffs to allow more time for negotiations.
  • The U.S. plans to impose a 30 percent tariff on most EU imports, with a deadline for talks. 11s
  • EU Commission President Ursula von der Leyen says the bloc prefers a negotiated solution but is ready with countermeasures if needed. 29s
  • Economists warn that the tariffs could reduce eurozone GDP growth and risk recession. 1m 10s
  • The White House says the U.S. will proceed with tariffs if trade offers do not improve. 1m 48s
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