The EU’s move to delay its countermeasures represents a significant concession from one of the US’s largest trading partners.

The European Commission says it will suspend two major packages of planned countermeasures against US tariff for six months.

"What we're seeing is basically a recession economy," Nebraska Representative Don Bacon said in a recent interview.

A suspension comes as the EU and the US work to finalise a joint statement following a deal struck on July 27.

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Trump’s tariffs and trade deals continue to affect global markets. Follow along for live updates on the Dow, S&P 500 and Nasdaq.

The European Union announced Monday it was pausing a plan to impose retaliatory tariffs on U.S. goods as it continued trade ...

The European Union said Monday it will pause its plan to impose retaliatory tariffs against the U.S. while it continues to ...

Brazil's government has set aside for now plans for direct retaliation against steep U.S. tariffs taking effect this week, ...