EU Delays Retaliatory Tariffs Against U.S.

• EU chief Ursula von der Leyen announces Brussels will delay retaliatory tariffs against U.S. steel and aluminium tariffs.

• The move comes after U.S. President Donald Trump announced sweeping 30% tariffs if no agreement is reached by August 1.

• The EU will extend the suspension of countermeasures until early August.

• The current suspension of retaliation over U.S. steel and aluminium tariffs will expire overnight from Monday to Tuesday.

• Brussels has readied duties on U.S. goods worth around €21 billion in response to Trump’s levies on metal imports.

• In addition, EU and Indonesian President Prabowo Subianto announced a “political agreement” to conclude a free trade deal.