Trump announces new tariffs and massive EU energy commitments

The European Union (EU) said Monday it’s delaying its planned tariffs on the United States by six months. The duties were originally set to start this week. The European Commission, which speaks for the EU, said the pause is part of a broader deal made between Ursula von der Leyen and Donald Trump. “On 27 July 2025, European Commission President Ursula von der Leyen and US President Donald J. Trump agreed a deal on tariffs and trade,” the EU Commission’s trade spokesperson said. They called the agreement one that brings “stability and predictability for citizens and businesses on both sides of the Atlantic.” The EU also confirmed it’s working with the U.S. to finalize a Joint Statement, as both leaders agreed in July. The Commission said it would “take the necessary steps to suspend by 6 months the EU’s countermeasures against the U.S., which were due to enter into force on 7 August.” The pause will officially begin on Tuesday, making the move immediate. Trump announces new tariffs and massive EU energy commitments The delay follows Trump’s decision last month to hit most EU goods with a 15% tariff, including cars. That announcement was paired with a statement from the White House claiming the EU would drop its own tariffs on U.S. industrial exports in return. “The EU will remove significant tariffs, including the elimination of all EU tariffs on U.S. industrial goods exported to the EU,” the White House said. Trump didn’t stop there. He also said the 27 EU member countries agreed to buy $750 billion worth of U.S. energy. And on top of that, they’d invest another $600 billion into the U.S., beyond what’s already going in. But nobody has explained who’s actually putting up the money. The EU can’t force private companies to buy U.S. oil or American grain. That part of the deal remains unclear. An EU statement later confirmed that the July 27 deal was a political agreement, not a binding contract. “Beyond taking the immediate actions committed, the EU and the U.S. will further negotiate, in line with their relevant internal procedures, to fully implement the political agreement,” the bloc said. The timing of all this matters. It’s happening as Trump’s broader trade agenda hits another key week. After pushing back deadlines multiple times, Trump just delayed his next round of global tariffs again. The new U.S. duties will now start August 7, not August 1, and will apply to over 60 countries. So far, nobody knows what kind of Joint Statement the EU and the U.S. are putting together. No details have been shared. But the trade spokesperson confirmed both sides are still working on it. For now, the EU’s counter-tariffs are frozen for six months. What happens after that is still wide open. Get seen where it counts. Advertise in Cryptopolitan Research and reach crypto’s sharpest investors and builders.