European Commission chief Ursula von der Leyen said the European Union will extend the suspension of trade countermeasures against the US until Aug. 1 to allow for further negotiations, after Donald Trump threatened a new 30% tariff rate against the bloc.

The European Union said on Sunday (July 13) it would extend its suspension of countermeasures to U.S. tariffs until early August and continue to press for a negotiated settlement, after U.S. President Donald Trump ratcheted up his trade war on the bloc.

The EU will extend its suspension of countermeasures to U.S. tariffs until early August as it aims for a negotiated solution on trade with the United States, European Commission President Ursula von der Leyen said on Sunday.