EU Postpones Retaliatory Tariffs on US, Eyes Potential Trade Agreement

The European Union has delayed retaliatory tariffs on US exports as it seeks a trade deal before President Trump's August 1 deadline. European Commission President Ursula von der Leyen confirmed the extension while continuing negotiations with Washington, emphasizing the EU’s preference for a negotiated solution. This follows Trump’s plan to impose a 30% tariff on EU and Mexican exports. The EU had earlier announced tariffs on $30 billion worth of US goods in response to Trump’s metal duties but paused them for 90 days. EU trade ministers will meet Monday to discuss next steps amid ongoing US dissatisfaction with proposed deals.