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EU to suspend US tariff countermeasures for 6 months

EU to suspend US tariff countermeasures for 6 months

Item 1 of 2 Containers are loaded on a container ship at a terminal at the harbour in Hamburg, Germany, February 24, 2022. REUTERS/Fabian Bimmer/File photo

[1/2] Containers are loaded on a container ship at a terminal at the harbour in Hamburg, Germany, February 24, 2022. REUTERS/Fabian Bimmer/File photo Purchase Licensing Rights , opens new tab

BRUSSELS, Aug 4 (Reuters) – The European Union will suspend its two packages of countermeasures to U.S. tariffs for six months following a deal with U.S. President Donald Trump, a Commission spokesperson said on Monday.

The EU-U.S. agreement leaves many questions open, including tariff rates on spirits, and Trump’s executive order last week setting tariffs on most EU goods at 15% did not include carve-outs such as for cars and car parts.

EU officials have said they expect more executive orders to follow soon.

“The EU continues to work with the U.S. to finalise a Joint Statement, as agreed on 27 July,” the spokesperson said in a statement.

“With these objectives in mind, the Commission will take the necessary steps to suspend by 6 months the EUโ€™s countermeasures against the US, which were due to enter into force on 7 August.”

The retaliatory tariffs are in two parts: one in response to U.S. steel and aluminium duties, and the other to Trump’s baseline and car tariffs.

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