The European Union has postponed retaliatory tariffs on U.S. goods as it seeks a trade agreement with the Trump administration before the end of the month. European Commission President Ursula von der Leyen expressed a preference for negotiation over countermeasures, delaying the implementation of such tariffs until August 1. Italian Foreign Minister Antonio Tajani is set to engage in discussions with U.S. officials. President Trump views global tariffs as a strategy to boost the U.S. economy, labeling trade deficits as a national security issue.
European Union will suspend retaliatory tariffs on U.S. goods in hopes of reaching a trade deal with the Trump administration by the end of the month.
European Commission President Ursula von der Leyen stated that the countermeasures would be delayed until Aug. 1 in anticipation of negotiations.
Von der Leyen emphasized, 'We have always been clear that we prefer a negotiated solution,' preparing countermeasures in case talks fail.
Trump's letter indicated that U.S. global tariffs were intended to revive the U.S. economy, citing the trade deficit as a national security threat.
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