European Commission President Ursula von der Leyen announced on Sunday that the EU will extend its pause on retaliatory measures against U.S. tariffs until early August, in an effort to reach a negotiated trade agreement with the United States.
The move comes after U.S. President Donald Trump escalated trade tensions by threatening to impose a 30% tariff on EU imports starting August 1, in addition to existing sector-specific duties, despite months of talks.
Von der Leyen said the EU is continuing to prepare additional countermeasures to ensure readiness, should talks fail. The initial package of retaliatory tariffs, worth €21 billion ($24.6 billion) and aimed at U.S. steel and aluminium imports, was suspended in April for 90 days and had been set to expire on Monday.
A second set of measures, under development since May, targets €72 billion in U.S. goods. While the list has not been made public, it still requires approval from EU member states.
Von der Leyen also clarified that the EU’s Anti-Coercion Instrument, which allows for broader economic retaliation against countries applying pressure on EU policies, is not yet being considered. She emphasised that the instrument is reserved for “extraordinary situations,” which the EU has not yet reached.
Potential EU responses could involve limiting U.S. access to the European market, imposing restrictions on foreign investment, financial services, export controls, and other economic measures.
Three people were killed, including a child and seven others were injured in Russian air strikes on Kyiv and the surrounding region early on W...
Iranian President Masoud Pezeshkian has accused the U.S. and Israel of seeking to foment internal divisions in Iran after failing to defeat the cou...
China has announced plans to complete the world's first AI-driven geological map of Mars by the end of 2028, a project that aims to reconstruct...
A Russian guided aerial bomb has struck an apartment building in Kharkiv, injuring 22 people, including children, according to the city’s mayor. The strike follows a day of near-continuous Russian attacks across Ukraine that killed at least five people.
The European Union's decision to simultaneously advance accession talks with Ukraine, Moldova, Montenegro and Albania marks its most ambitious enlargement effort in more than two decades.
U.S. President Donald Trump has denied reports that he offered Iran sanctions relief and access to frozen funds in exchange for nuclear concessions.
Ukrainian President Volodymyr Zelenskyy said on Monday that more than 8,000 North Korean troops are currently in Russia, with preparations under way to send another 10,000.
Iranian President Masoud Pezeshkian has accused the U.S. and Israel of seeking to foment internal divisions in Iran after failing to defeat the country militarily, Iran's state news agency IRNA reported.
Three people were killed, including a child and seven others were injured in Russian air strikes on Kyiv and the surrounding region early on Wednesday, Ukrainian officials have said.
China has announced plans to complete the world's first AI-driven geological map of Mars by the end of 2028, a project that aims to reconstruct the red planet's ancient water history and introduce a Chinese framework for Martian geological time that Beijing hopes will become a new global standard.
Norway’s parliament on Wednesday began public hearings into ties between late U.S. sex offender Jeffrey Epstein and Norwegian diplomats and politicians, as authorities face questions over the impact of those relationships on the country’s foreign service.
New York prosecutors have reopened a criminal investigation into allegations that seven Cornell University fraternity members sexually assaulted a student in 2024. The case is set to be presented to a grand jury following renewed scrutiny.
British Prime Minister Andy Burnham has declared that Brexit has done more harm than good, while reaffirming support for Ukraine and NATO as he used his first Labour conference speech as leader to set out a new direction for Britain.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment