The European Union has announced that it will suspend the implementation of its trade countermeasures against the United States until early August to allow more time for a negotiated settlement to the issue.
In a letter sent to the European Commission Saturday, President Donald Trump said he would impose a 30 percent tariff on most goods imported from the European Union from August 1.
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Political News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.