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**EU Extends Trade Truce with US, Hopes for Deal Amid Trump Tariff Threat**

Brussels – The European Union has decided to extend its suspension of retaliatory tariffs on US exports, hoping to strike a negotiated trade agreement with the Trump administration before President Trump’s August 1st deadline. The move comes after Trump threatened to impose a 30% tariff on European and Mexican exports starting next month.

European Commission President Ursula von der Leyen affirmed the EU’s commitment to finding a solution through dialogue. “We have always been very clear that we prefer a negotiated solution,” she stated Sunday. “This remains the case, and we will use the time that we have now until the 1st of August.” The EU, however, is also prepared to implement countermeasures if negotiations fail.

The EU had initially announced retaliatory tariffs on €26 billion ($30 billion) worth of US exports in response to Trump’s steel and aluminum tariffs. Those measures were put on hold in April after Trump delayed his proposed “reciprocal tariffs.”

While the EU holds out hope for a deal, the Trump administration appears less optimistic. White House Economic Advisor Kevin Hassett stated that Trump is dissatisfied with current offers from trade partners and expects improved terms. “These tariffs are real if the president doesn’t get a deal that he thinks is good enough,” Hassett said, adding that discussions are ongoing.

The EU is the United States’ largest trading partner, with total trade in goods and services reaching €1.7 trillion ($2 trillion) in 2024, according to Eurostat. EU trade ministers are set to meet in Brussels today to discuss their options in light of Trump’s looming tariff deadline.

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