The president of the European Commission, Ursula von der Leyen, said on Sunday that the EU will suspend contracted against the United States by early August. She added that the block will continue to prepare response options.
The statement occurs after Donald Trump’s announcement of 30% tariff imposition on and Mexico.
The US currently imposes a 50% rate on EU steel and aluminum products, as well as 25% on the automotive sector and a 10% rate over almost all other products.
According to the previously announced plan, the first round of EU retaliatory tariffs on US products was scheduled to take effect on Monday.
However, Trump’s decision to impose 30% tariffs on EU exports triggered wide opposition.
Deputy Chancellor and German Finance Minister Lars Klingbeil said on Sunday that the EU should take firm action against the United States if tariff negotiations are unable to alleviate the growing global trade conflict.
Asking for the end of the growing commercial tensions, Klingbeil said: “The only produce losers. They threaten the American economy as much as they harm companies in Europe.”
On Saturday, Spanish Prime Minister Pedro Sanchez said in a publication on social networks that economic openness and trade creates prosperity, while unjustified tariffs destroy them, adding that Spain will continue to support the European Commission in its negotiations to reach an agreement.
