The European Union will delay by six months the implementation of its countermeasures to U.S. tariffs that were meant to go into effect Thursday, according to Olof Gill, European Commission spokesperson for trade.
The commission plans to adopt the necessary measures to implement the pause on Tuesday, per Gill.
Last month, the commission approved a regulation that would have installed levies of up to 30% on a swath of U.S. goods on Aug. 7. Steel and aluminum products were among the affected categories, partially in response to the U.S. re-upping a series of Section 232 tariffs on those products. Countermeasure amounts vary across categories, topping out at 25%.
The EU also countered the United States’ separate 25% duties on aluminum cans and canned beer, announced in April, with its own 25% duty. And it countered U.S. tariffs on scrap iron, steel and aluminum with a ban on those products starting Sept. 7.
The initial measure detailing EU counter tariffs passed days before European Commission President Ursula von der Leyen met with U.S. President Donald Trump in Scotland for trade negotiations. Those discussions led to a framework deal in which the U.S. agreed to lower planned tariffs on imports from the bloc from 30% to 15%. Under the pact, the bloc agreed to purchase $750 billion in U.S. energy exports and make a $600 billion investment in the country. However, the agreement did not cover steel and aluminum imports, which currently face a 50% U.S. tariff globally.
“This deal provides a framework from which we will further reduce tariffs on more products, address non-tariff barriers and cooperate on economic security, because when the European Union and the United States work together as partners, the benefits are tangible on both sides,” von der Leyen said after the two leaders announced the agreement, adding that “details have to be sorted out.”
Days later, Trump signed an executive order placing country-specific reciprocal duties on over 60 trading partners, including a 15% rate for imports from the EU, effective Aug. 7.
“The EU continues to work with the US to finalise a Joint Statement, as agreed on 27 July,” Gill said.
The EU has now delayed its countermeasures to U.S. tariffs three times, first announcing its intention in May to levy tariffs on 95 billion euros (roughly $107 billion at the time of announcement) of U.S. goods.
The bloc was also readying additional countermeasures covering 72 billion euros (roughly $84 billion) of U.S. imports, Commissioner for Trade and Economic Security Maroš Šefčovič said on July 13.
Katie Pyzyk contributed reporting to this article.
