Ursula von der Leyen says bloc hopes to see negotiated resolution to commerce tensions.
The European Union has delayed retaliatory tariffs on exports from america as officers scramble to succeed in a commerce take care of Washington forward of US President Donald Trump’s August 1 deadline.
Ursula von der Leyen, the president of the European Fee, stated on Sunday that the bloc would prolong its suspension of countermeasures because it continued negotiations with the Trump administration.
“On the identical time, we are going to proceed to organize for the countermeasures, so we’re totally ready,” von der Leyen stated throughout a information convention in Brussels.
“We’ve got at all times been very clear that we desire a negotiated resolution,” she added.
“This stays the case, and we are going to use the time that we’ve got now till the first of August.”
The EU’s announcement comes after Trump on Saturday unveiled plans to slap a 30 percent tariff on European and Mexican exports from August 1.
The EU in March introduced retaliatory tariffs on 26 billion euros ($30bn) of US exports in response to Trump’s duties on metal and aluminium.
The bloc paused the measures for 90 days the next month after Trump introduced he would delay the implementation of his so-called “reciprocal tariffs”.
The EU’s pause had been on account of expire at midnight on Monday.
EU commerce ministers are scheduled to convene in Brussels on Monday to debate choices for responding to Trump’s celebrity news tariff threats.
On Sunday, White Home Financial Adviser Kevin Hassett stated that Trump was not pleased with the “sketches of offers” offered by US commerce companions thus far and that their presents would “have to be higher”.
“These tariffs are actual if the president doesn’t get a deal that he thinks is sweet sufficient, however, you realize, conversations are ongoing, and we’ll see the place the mud settles,” Hassett informed ABC Information’s This Week.
Taken collectively, EU member international locations are the US’s largest buying and selling companion.
US-EU commerce in items and providers amounted to 1.7 trillion euros ($2 trillion) in 2024, in line with EU statistics company Eurostat.