The EU will suspend its two packages of retaliatory tariffs against the U.S. for six months, following a deal with President Donald Trump to allow time for further negotiations.
00:00Our first top story for tonight, the European Union will suspend its two packages of retaliatory tariffs against the U.S. for six months, which were due to take effect on August 7.
00:12The decision follows a deal struck with U.S. President Donald Trump to allow time for further negotiations.
00:19The countermeasures were designed in two parts, one in response to U.S. steel and aluminium duties, and the other targeting Trump's proposed baseline and car tariffs.
00:30The delay now marks a concession from one of Washington's largest trading partners following weeks of talks between Trump and European Commission President Ursula von der Leyen.
00:40Trump's executive order last week had imposed a 15% tariff on most EU goods.
00:45However, it excluded key carve-outs such as automotive vehicles and their parts.
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