The European Union announced the suspension of retaliatory tariffs on US goods

After reaching an agreement with the United States last month, the European Union announced that it would suspend the imposition of retaliatory tariffs on 93 billion euros worth of US goods.

AFP reported that EU trade spokesperson Jill said on Tuesday (August 5) that the European Commission has taken the necessary legal procedures to suspend countermeasures. This countermeasure tariff was originally scheduled to take effect on August 7th.

European Commission President Ursula von der Leyen reached a framework agreement with US President Donald Trump on July 27.

According to the agreement, EU export products will face a comprehensive tariff of 15% starting from August 8th. This rate is higher than the tariff before Trump's return to the White House, but much lower than the 30% he threatened to impose earlier.

A senior EU official said that the two sides are finalizing the agreement and hope to provide more details "soon".

However, in the event of an unexpected situation, Brussels can lift the moratorium at any time and immediately impose counter-tariffs.

A senior official said, "We put it back in the 'refrigerator', but if necessary, we can take it out at any time, so we can lift the moratorium at any time."

On the other hand, Swiss President Keller-Sartre will travel to Washington later on Tuesday to hold talks with US authorities to discuss improving the customs situation in Switzerland.

The Swiss government issued a statement saying: "Our goal is to present a more attractive plan to the United States to lower the additional tariff levels on Swiss export products, while taking into account the concerns of the United States."