Ursula von der Leyen expresses hope for a resolution to ongoing trade disputes.
The European Union has postponed imposing retaliatory tariffs on U.S. exports as officials strive to finalize a trade agreement with Washington ahead of the looming August 1 deadline set by President Donald Trump in 2025.
Ursula von der Leyen, the president of the European Commission, announced on Sunday that the bloc has decided to extend its suspension of countermeasures while continuing negotiations with the Trump administration.
“We are simultaneously preparing for potential countermeasures to ensure we are ready,” von der Leyen mentioned at a press briefing in Brussels. “We have consistently emphasized our preference for a negotiated resolution, and that stance remains unchanged as we utilize the time available until August 1.”
This announcement follows Trump’s Saturday declaration of plans to impose a 30% tariff on exports from Europe and Mexico, effective August 1.
Back in March, the EU had outlined retaliatory tariffs on $30 billion (26 billion euros) worth of U.S. exports in response to tariffs introduced by Trump on steel and aluminum. However, in April, they opted to delay these measures for 90 days after Trump deferred the implementation of his own “reciprocal tariffs.”
The EU’s previous halt on tariffs was set to expire at midnight on Monday. EU trade ministers are scheduled to meet in Brussels on the same day to deliberate on possible responses to Trump’s recent tariff threats.
On Sunday, Kevin Hassett, a senior economic advisor at the White House, stated that Trump was dissatisfied with the preliminary trade proposals offered by U.S. partners, emphasizing that their terms “need improvement.”
“If the president is not presented with a favorable deal, these tariffs are likely to be enacted. However, discussions are ongoing, and we will await the final outcome,” Hassett remarked during an appearance on ABC News’s This Week.
In totality, EU member states represent the largest trading partner for the U.S. In 2024, trade in goods and services between the U.S. and the EU reached 1.7 trillion euros (approximately $2 trillion), according to data from Eurostat.