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Bloomberg Quint

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Image Credit: Bloomberg Quint

EU To Extend Suspension Of Countermeasures To Allow US Talks

  • The European Union plans to extend the suspension of trade countermeasures against the US until Aug. 1 to facilitate further talks after threats of new tariffs by Donald Trump.
  • The current list of countermeasures would affect about €21 billion ($24.5 billion) of US goods, with the EU having another list prepared for about €72 billion.
  • The EU's anti-coercion tool won't be used for now, as negotiations continue, with cars and agriculture tariffs remaining key points of contention between the EU and US.
  • German Chancellor Friedrich Merz emphasized the impact of potential 30% tariffs and the importance of unity in the EU while Trump warned of increased tariffs in his recent letter to the EU.

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