EU postpones taking countermeasures against American goods for six months
According to media reports, an important development for transatlantic trade was the fact that for the third time the European Commission postponed planned countermeasures against 93 billion euros worth of American goods for six months.
They were originally supposed to enter into force on August 7. This step followed the political agreement reached between the EU and the United States on July 27.
Olof Gill, a representative of the European Commission, confirmed the delay, stressing that although the agreement is not legally binding, it offers immediate assistance to EU exporters. This step is seen as a temporary de-escalation of the situation, which could escalate into a full-scale trade dispute.
The July 27 agreement introduces a 15 percent tariff rate on the vast majority of goods exported from the EU to the United States. The deal provides short-term stability for EU exporters and gives both sides time to finalize a political agreement through internal legal procedures.
steelorbis.com