<h1>EU suspends retaliatory tariffs on US goods to negotiate trade deal by August 1</h1> The European Union suspended retaliatory tariffs on US goods that were scheduled to begin Monday, hoping to negotiate a trade deal by August 1. The EU Commission President announced the delay after the US President sent a letter threatening 30% tariffs on EU and Mexican goods starting August 1. The EU had planned countermeasures against the US, its biggest trading partner, with bilateral trade worth 1.7 trillion euros in 2024. An Italian Foreign Minister is traveling to Washington for talks, while EU trade ministers will meet to discuss US and China relations. The EU emphasized preferring negotiated solutions while preparing backup countermeasures if talks fail.