The EU suspends retaliatory tariffs on US goods until July 14

ChainCatcher news, according to Barrons, the European Union has announced a suspension of retaliatory tariffs on U.S. goods worth €21 billion, effective until July 14, 2025. This move aims to create space for negotiations with Washington. EU Trade Commissioner Šefčovič arrived in Washington on Monday to meet with U.S. representatives, hoping to reach an agreement before the 90-day deadline expires. The European Commission stated that while it is still preparing countermeasures against the 20% U.S. tariffs, Brussels has clearly expressed a desire to avoid retaliatory actions, deeming the U.S. tariffs "unreasonable and harmful," which could damage both parties and the global economy.