Key Facts
• July 13: EU Commission President Ursula von der Leyen announced tariff delay.
• U.S. notified EU on July 12 of 30% tariffs starting August 1.
• EU planned €21 billion ($36 billion) in retaliatory tariffs on U.S. steel and aluminum.
• Retaliatory tariffs were paused in April, with the suspension set to expire July 14.
• EU ministers to meet July 14 to discuss U.S. tariff response.
• Von der Leyen prioritizes negotiations until early August but prepares further measures.
• EU aims to avoid immediate retaliation and focus on reaching an agreement.
Summary
The European Union (EU) has postponed the implementation of retaliatory tariffs on the United States until early August, as announced by EU Commission President Ursula von der Leyen on July 13. This decision follows the U.S. notification on July 12 of its plan to impose 30% tariffs on EU goods starting August 1. The EU had previously prepared €21 billion ($36 billion) in retaliatory tariffs targeting U.S. steel and aluminum products, but their activation was paused in April, with the suspension set to expire on July 14. EU ministers are scheduled to meet on July 14 to discuss the situation, with a consensus expected to prioritize negotiations over immediate retaliation. Von der Leyen emphasized the EU’s commitment to reaching an agreement by early August while remaining prepared for further countermeasures if talks fail.
