The European Commission has suspended planned retaliatory tariffs on US goods worth €93bn, just before they were set to take effect on August 7. The move follows a trade deal between Commission President Ursula von der Leyen and US President Donald Trump, under which the EU will buy more American energy and face a 15 percent tariff on most exports to the US, Xinhua reported.
The decision drew criticism from Germany, with Finance Minister Lars Klingbeil calling the EU’s stance “too weak.” The suspension lasts six months, with the option to reinstate tariffs if commitments aren’t met.
