EU Pauses Countermeasures Amid U.S. Tariff Deal

The European Union plans to pause its countermeasures to U.S. tariffs for six months following negotiations with President Trump. This suspension, announced by an EU Commission spokesperson, allows more time for discussions. However, many questions remain unresolved, including tariff specifics on certain goods like spirits and automobiles.

The European Union has decided to suspend its countermeasures against U.S. tariffs for a six-month period. This decision comes after discussions with President Donald Trump, highlighting a temporary de-escalation in trade tensions.

The EU-U.S. agreement raises several unresolved issues, particularly concerning specific tariff rates, such as those on spirits, which remain a point of contention. Additionally, Trump's recent executive order setting a 15% tariff on most EU goods left some industries without the expected exclusions.

EU officials anticipate further developments as more executive orders are expected. A Commission spokesperson confirmed that the EU is actively working with U.S. counterparts to finalize a Joint Statement, following their agreement on July 27. The suspension is meant to impact the EU's retaliation to U.S. steel, aluminum, and additional tariffs.

(With inputs from agencies.)