E.U. will pause retaliatory tariffs against U.S. as trade talks continue
The European Union announced on Monday that it interrupted a plan to impose prices for reprisals on American products when it continued commercial negotiations with the Trump administration.
In a statement, the European Commission spokesman for trade said that the countermeasures provided against the United States, which were to take effect on Thursday, would now be suspended for six months.
The announcement helped to propel higher shares on Monday, the main indices earning all about 1%.
On July 27, Trump announced an agreement with the EU – the largest American trading partner – which included a basic rate of 15%, down compared to 30% threatened, and a commitment from the block to buy $ 750 billion in American energy products and invest $ 600 billion additional non -specified American projects.
In return, Trump said, the EU has promised to suppress prices on American industrial goods.
The commission’s commerce spokesman said on Monday that he was still working on the finalization of a joint declaration with the Trump administration.
There was no delay in the aggressive commercial posture of Trump. The president also announced on Monday that he would increase trade tasks on India for allegations that he was illicitly returning Russian oil, which, according to him, helped to fuel the war effort of Russia in Ukraine.
The other new measures that Trump announced last week, including a rate rate of 15% in some four dozen countries with which the United States currently has a trade deficit, are expected to take effect on Thursday.
