The European Union will extend its suspension of tariffs on goods imported from the US until early August, despite Washington's decision to slap a 30% levy on imports from the bloc, European Commission chief Ursula von der Leyen said on Sunday.

The EU's retaliatory tariffs on US exports have been delayed again, European Commission President Ursula von der Leyen has announced. The countermeasures, which were due to start on Tuesday, came in response to US President Donald Trump's initial import taxes on steel and aluminium.

We have always been clear that we prefer a negotiated solution,″ European Commission President Ursula von der Leyen said

The European Union has delayed retaliatory tariffs on exports from the United States as officials scramble to reach a trade deal with Washington ahead of US President Donald Trump’s August 1 deadline.

U.S. officials have informed the European Union that President Donald Trump may demand a 15% or higher baseline tariff on most European goods as part of a new trade agreement, according to The Wall Street Journal.