EU suspends countermeasures to US tariffs for six months

Brussels focuses on the 27 July agreement between Trump and von der Leyen to relaunch trade cooperation

Today, 5 August, marks the start of a six-month suspension of European countermeasures against US tariffs. This was announced by the EU Commission’s spokesperson for trade, Olof Gill, who explained that the decision was taken “in view of the finalisation of the joint statement” between Brussels and Washington, agreed on 27 July by Commission President Ursula von der Leyen and US President Donald Trump.

The political agreement of 27 July: stability and strategic cooperation
According to the Commission, the agreement reached between Trump and von der Leyen represents ‘an important step forward’ in restoring stability in transatlantic trade relations. The agreement ensures European companies continued access to the US market, protects value chains on both sides of the Atlantic and safeguards millions of jobs. The goal now is to strengthen strategic cooperation and provide certainty to the industrial sector.

Single US tariff of 15% from 7 August: no additional cumulation
As provided for in the agreement, the United States will introduce a single, comprehensive 15% tariff on goods imported from the EU from 8 August. The rate already includes the “most-favoured nation” rate and does not provide for additional cumulation, thus guaranteeing European companies a reduction compared to the tariffs announced last April.

On 31 July, Trump signed an Executive Order confirming this first step, while the other points of the agreement remain in the implementation phase. These include: the reduction of tariffs on cars and components (Section 232) to a maximum of 15% and specific trade treatment for certain strategic sectors such as aerospace.

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