EU to suspend US tariff countermeasures for 6 months
EU to suspend US tariff countermeasures for 6 months
www.reuters.com
reuters.com
BRUSSELS, Aug 4 (Reuters) - The European Union will suspend its two packages of countermeasures to U.S. tariffs for six months following a deal with U.S. President Donald Trump, a Commission spokesperson said on Monday.
How I read this info now, is pending a "proper agreement" , and the following Joint EU/ US tradedeal statement, the EU will suspend temporarily, the earlier announced tariff countermeasures.
...or you could read it as the announced agreement between Trump and von der Leyen being 100% insubstantial, not changing that the US are charging tariffs (and IIUC 5% more than before the announcement) for no reason, and not changing that the EU is doing absolutely nothing about it.
I wish we reached out to other WTO members and just embargo the US.
Well unfortunately Trumps actions do have impacts and Tariffs have been imposed by the USA.
Apart from this, I do acknowledge that this new deal hasn't lead to more clarity, as it has even created more speculation and uncertainty. So, at this point, for sure anything can be said as no-one actually knows jackshit.
Concerning WTO, it's unfortunately being eroded, and possibly something new must or will be created. Diversification in Trade and supply chain is key.