🇪🇺🇺🇸 European Union considers lowering tariffs on US imports, WSJ reports.

The European Union is actually considering suspending its planned counter-tariffs against the US to pursue ongoing trade negotiations, rather than lowering tariffs on US imports. European Commission President Ursula von der Leyen announced this move, aiming to defuse escalating trade tensions. The EU's decision reflects cautious optimism that dialogue can reduce trade tensions.

The US has imposed tariffs covering around $439 billion of EU exports, approximately 70% of its total exports to the US.

The EU has proposed a "zero-for-zero" tariff deal on all industrial goods, which the Trump administration previously rejected.

The EU is working towards a trade deal with the US before tariffs on nearly all EU exports rise to 50% on July 9.

If negotiations don't yield satisfactory results, the EU may impose counter-tariffs on US imports, including aircraft from Boeing.

The EU's suspension of counter-tariffs indicates flexibility in its approach to trade negotiations with the US. However, the bloc remains prepared to take further action if needed.#BinanceAlphaAlert $XRP