EU to suspend US tariff countermeasures for 6 months

BRUSSELS (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 EU’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.

(Reporting by Julia Payne; Editing by Toby Chopra)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Enbridge pipeline trespassed on Wisconsin tribal land, must be moved, US appeals court finds
• EU agrees rescue centre in eastern Libya as migrant departures rise
• Crypto exchange Coinbase logs third straight quarterly loss on trading slowdown