00:00The European Union will delay retaliatory tariffs on U.S. goods originally set to begin Monday in hopes of reaching a trade agreement with the Trump White House by August 1st.
00:10The European Commission's president said the pause signals a critical window for negotiations, following President Trump's announcement of 30 percent tariffs on EU and Mexican goods starting next month.
00:22Representing its 27 member states, the EU emphasized that while it's ready with countermeasures, it prefers to use this time to find a diplomatic solution.
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