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2d ago

EU Delays Steel and Aluminium Tariffs as Trump Threatens 30% Duties From August 1

Brussels has paused its countermeasures to preserve negotiations with Washington before the deadline.

FILE - European Commissioner for Trade and Economic Security Maros Sefcovic, right, speaks with European Commission President Ursula von der Leyen, during the weekly meeting of the College of Commissioners at EU headquarters in Brussels, April 9, 2025. (AP Photo/Omar Havana, File)
President of the European Commission Ursula von der Leyen and the President of Indonesia (Unseen) are talking to media at the end of a bilateral meeting in the Berlaymont, the EU Commission headquarter on July 13, 2025 in Brussels, Belgium. The discussions focused on Donald Trump, who announced 30% surcharges for the European Union and Mexico starting from August 1st.

Overview

  • President Trump posted letters on Truth Social warning that 30% tariffs on imports from the EU and Mexico will take effect on August 1 if current trade barriers remain in place.
  • European Commission President Ursula von der Leyen said the bloc will extend its suspension of steel and aluminium counter-tariffs until August 1 to allow more talks with the U.S.
  • The EU has drafted two contingency tariff packages targeting roughly €21 billion and €72 billion of U.S. goods in case negotiations collapse after the cutoff date.
  • Trump’s administration also sent proposals for 20–50% duties to more than 20 other trading partners, including Canada, Japan and Brazil, underscoring a broad reciprocal tariff campaign.
  • Global stocks edged lower this week as investors weighed whether the looming tariff deadline represents real escalation or a negotiating tactic.