EU suspends retaliatory tariffs on US goods until 14 July
The European Union has announced that it will suspend retaliatory tariffs on €21 billion worth of US goods until 14 July 2025, Barrons reports. The move is aimed at creating space for negotiations with Washington. EU Trade Commissioner Sefcovic has arrived in Washington on Monday for talks with U.S. representatives in the hope of reaching an agreement before the end of the 90-day period. The European Commission said that while it was still preparing its response to the 20 per cent US tariffs, Brussels made clear that it wanted to avoid retaliatory action, arguing that the US tariffs were ‘unjustified and harmful’ and could damage both sides and the global economy.
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