EU Holds Off on US Tariff Countermeasures for Now

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

- REUTERS

Trump said on Saturday he would be imposing a 30% tariff on most imports from the EU from August 1, though his deadline gave the EU, like other targeted countries, time to hammer out agreements that could lower the threatened tariff rate.

Ursula von der Leyen, head of the EU's executive commission which handles trade policy for the 27 member states, said the bloc would maintain its two-track approach: keep talking and prepare retaliatory measures.