Bota 2025-08-04 14:20:00 Nga VNA

Economic peace on the horizon: EU suspends counter-tariffs against US

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Economic peace on the horizon: EU suspends counter-tariffs against US

The European Union has decided to suspend retaliatory tariffs on goods imported from the United States, in an effort to reduce trade tensions and pave the way for a new economic cooperation agreement.

The news was confirmed by internal sources at the European Commission and reported by the Italian daily La Repubblica. According to these sources, the President of the European Commission, Ursula von der Leyen, has given clear instructions that the European Union must refrain from any provocative actions and show trust in its strategic partner across the Atlantic. The suspension of the tariff measures, initially drafted in July as a response to the American measures, has been approved by the Committee on Customs Barriers. This decision is expected to ease the path towards the finalization of a new trade agreement between the EU and the US.

Among the most important points included in the proposed framework agreement are:

The reduction of customs duties on European cars from 27.5% to 15%, a significant change that aims to improve the competitiveness of the EU automotive industry in the US market.
The removal of tariffs on the aircraft industry, allowing free and open trade in this strategic sector. The reduction of tariffs on pharmaceutical products, which is expected to have a positive impact on the circulation of medicines and cooperation in the field of health. However, the issue of tariffs on steel and aluminum remains a controversial point, as the US administration continues to maintain a tough and unchanged stance in this regard.

According to EU officials, the tariff suspension will be valid for a 6-month period, during which detailed negotiations are expected to take place to reach a final agreement. Meanwhile, some European officials are skeptical, emphasizing that the decision to suspend tariffs should not be interpreted as a long-term solution, but as a diplomatic step to avoid escalating the conflict.

On the other hand, the US, led by the Trump administration, appears to be pursuing a determined trade policy. Official data shows that in the period April-August 2025 alone, tariffs generated over $152 billion in revenue, almost double what was recorded in the same period a year earlier.

In addition to relations with the EU, the US has also reopened trade talks with Canada and Switzerland, two partners that have been significantly affected by US tariffs, as part of a broader effort to mend relations with traditional allies.

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