The European Union has decided to stop its planned tariffs on American exports for now. These tariffs were supposed to begin on Wednesday and would have affected US products like soybeans, whisky, cars, and aircraft.

EU Confirms Suspension of Tariffs

On Tuesday, the European Commission officially announced that the tariffs will not be enforced. The decision applies for six months.

EU trade spokesperson Olof Gill said, “The commission has adopted the necessary legal procedures to suspend the implementation of our EU countermeasures, which were due to kick in on 7 August.”

This move came after Commission President Ursula von der Leyen and US President Donald Trump reached a framework agreement on July 27. The deal was made just days before the EU’s tariffs were supposed to begin.

Two-Part Tariff Plan Was Ready

The EU had created a two-part list of countermeasures valued at €21 billion and €72 billion. On July 24, EU member states approved the plan, and the two lists were combined into a single package.

EU and US Still in Talks

Gill also mentioned, “The EU continues to work with the US to finalise a joint statement, as agreed on 27 July.”

Although the EU paused its tariff plans, the US did not hold back. On July 31, Trump signed an executive order that imposed 15% tariffs on most EU goods starting from August 8.

These new US tariffs are higher than before Trump returned to power, though not as severe as the earlier threat of 30%.

Some EU Products Still Not Spared

Despite expectations, some EU industries did not get exemptions. Cars and car parts remain under a 25% tariff. Aircraft and equipment are also still being taxed.

Gill explained that the recent agreement offered some short-term certainty. “A first important foundation is laid for restoring clarity to EU companies exporting to the US,” he said.

More Details Expected Soon

A senior EU official, who chose to remain anonymous, said that the deal with the US is still being worked out. "We put it back into the freezer and we can always take it out if needed, so we can always unsuspend the suspension,” the official said.

According to EU sources, more executive orders from Washington are likely to follow soon.