The EU Is Delaying Retaliatory Tariffs On U.S. Goods In Hopes Of Reaching A Deal By Aug. 1

PARIS (AP) — The European Union will suspend retaliatory tariffs connected U.S. equipment scheduled to return effect Monday successful hopes of reaching a waste and acquisition woody pinch nan Trump management by nan extremity of nan month.

″This is now nan clip for negotiations,″ European Commission President Ursula von der Leyen told reporters successful Brussels connected Sunday, aft President Donald Trump sent a missive announcing caller tariffs of 30% connected equipment from nan EU and Mexico starting Aug. 1.

The EU — America’s biggest trading partner and nan world’s largest trading bloc — had been scheduled to enforce ″countermeasures″ starting Monday astatine midnight Brussels clip (6 p.m. EDT; 22:00 GMT). The EU negotiates waste and acquisition deals connected behalf of its 27 personnel countries.

Von der Leyen said those countermeasures would beryllium delayed until Aug. 1, and that Trump’s missive shows ″that we person until nan first of August″ to negotiate.

Europe’s biggest exports to nan U.S. are pharmaceuticals, cars, aircraft, chemicals, aesculapian instruments and vino and spirits.

″We person ever been clear that we for illustration a negotiated solution,″ she said. If they can’t scope a deal, she said that ″we will proceed to hole countermeasures truthful we are afloat prepared.″

Italian Premier Giorgia Meloni warned Sunday that a waste and acquisition warfare “would make america each weaker successful nan look of nan world challenges we look together” and said Italy would actively activity for a adjacent deal. “Europe has nan economical and financial spot to make nan lawsuit for a adjacent and common-sense agreement,” her agency said successful a statement.

Italian Foreign Minister Antonio Tajani was heading to Washington for talks Monday pinch nan U.S. management and Congress. The right-wing authorities of Meloni, nan only EU leader to be Trump’s inauguration, has sought to position itself arsenic a “ bridge” betwixt Brussels and Washington.

Trump has said his world tariffs would group nan instauration for reviving a U.S. system that he claims has been ripped disconnected by different nations for decades. Trump successful his missive to nan EU said nan U.S. waste and acquisition shortage was a nationalist information threat.

Trump isn’t satisfied pinch immoderate of nan draught agreements connected trade, White House National Economic Council Director Kevin Hassett said connected ABC News Sunday.

“The bottommost statement is that he’s seen immoderate sketches of deals that had been negotiated pinch Howard Lutnick and nan remainder of nan waste and acquisition team, and nan president thinks that nan deals request to beryllium better, and to fundamentally put a statement successful nan sand, he sent these letters retired to folks. And we’ll spot really it useful out,” he said.

U.S. waste and acquisition partners — and companies astir nan world including French winemakers to German carmakers — person faced months of uncertainty and on-and-off threats from Trump to enforce tariffs, pinch deadlines sometimes extended aliases changed. The tariffs could person ramifications for astir each facet of nan world economy.

The worth of EU-U.S. waste and acquisition successful equipment and services amounted to 1.7 trillion euros ($2 trillion) successful 2024, aliases an mean of 4.6 cardinal euros a day, according to EU statistic agency Eurostat.

Trade ministers from EU countries are scheduled to meet Monday to talk waste and acquisition relations pinch nan U.S., arsenic good arsenic pinch China. The EU is weighing closer ties pinch China arsenic a consequence of Trump’s threatened tariffs.

Speaking alongside Indonesian President Prabowo Subianto, von der Leyen said nan waste and acquisition tensions pinch nan U.S. show nan value of ’’diversifying our waste and acquisition relationships.″ Announcing person practice betwixt nan EU and Indonesia, she stressed nan request for ’’predictable″ trading partnerships based connected ’’trust.″

The Indonesian leader said, ’’I deliberation nan United States will beryllium ever a very important leader successful nan world,″ but stressed nan request for multilateral relationships, adding, ’’We would for illustration to spot a very beardown Europe.″

___

Associated Press writer Nicole Winfield successful Rome contributed to this report.