In brief
Tensions rise between the EU and the US as both sides prepare for potential trade actions, with negotiations ongoing.
In a significant move, European Commission President Ursula von der Leyen announced the delay of retaliatory tariffs on US exports originally scheduled to take effect on Tuesday. This decision comes in light of escalating trade tensions sparked by US President Donald Trump's tariffs on steel and aluminum. The countermeasures, which could have affected €21 billion worth of US goods, were first paused in March and will now remain on hold until early August.During a press conference on Sunday, von der Leyen stated that the EU is using this time to negotiate with the US. She highlighted the importance of finding a negotiated solution to the trade conflict, especially after Trump threatened to impose a 30% tariff on EU imports, warning of further retaliatory measures if the EU responds.EU trade ministers are set to gather in Brussels on Monday to discuss their next steps. Germany's finance minister emphasized the need for serious negotiations to protect European jobs and businesses. French President Emmanuel Macron also voiced the importance of defending European interests.As the situation unfolds, the EU remains cautious but prepared to act if talks break down, keeping the door open for constructive discussions aimed at resolving the ongoing trade dispute.
