Created
: 2025.07.14
- English
- English
- What's Myforex
- Share
- Use tools
- Get information
- What's New
- Help center
- About us
- Customer support
- Terms and policies
-
-
PortfolioShare your portfolio and performance in real time -
Events & contestsEvents and contests held by retail brokers around the world
-
-
Real-time spread comparisonCompare spreads of major retail brokers in real time -
Volatility analysisVisualize volatility as a measure of daily market activity -
Swap point comparisonCompare buy and sell swap values for each broker by symbol -
Market rates & chartsCheck prices for all instruments offered by each broker -
IndicatorsProviding in-house developed indicators for MT4/MT5 -
Trading calculatorsCalculation tools for each broker to help you trade
-
-
World FX newsLatest news on forex and cryptocurrencies from around the world -
Broker informationTrading information of retail brokers worldwide -
MetaTrader4/5 user guideUser guide collection for the latest MetaTrader4/5 -
Economic calendarRelease calendar for indicators from official sources of major economies
EU extends pause on tariff retaliation day to allow more talks
World FX news
Breaking news
EU extends pause on tariff retaliation day to allow more talks
2025.07.14 07:56
2025.07.14 07:56
European Commission President Ursula von der Leyen said on Sunday that the European Union (EU) will extend its suspension of trade countermeasures against new US tariffs until August 1, as it continues its efforts to resolve the trade dispute with the US through dialogue.
Key quotes
Aiming to keep negotiations open after Trump threatened 30% tariffs on EU goods.
The EU prefers a diplomatic resolution but is also preparing additional retaliatory tariffs.
The bloc has one active list targeting €21 billion in US exports and a second set ready for €72 billion more if needed.
EU's powerful anti-coercion instrument will not be triggered yet, as von der Leyen said the situation hasn't reached that level.
Market reaction
At the time of writing, EUR/USD is trading 0.26% lower on the day at 1.1674.
Tariffs FAQs
Tariffs are customs duties levied on certain merchandise imports or a category of products. Tariffs are designed to help local producers and manufacturers be more competitive in the market by providing a price advantage over similar goods that can be imported. Tariffs are widely used as tools of protectionism, along with trade barriers and import quotas.
Although tariffs and taxes both generate government revenue to fund public goods and services, they have several distinctions. Tariffs are prepaid at the port of entry, while taxes are paid at the time of purchase. Taxes are imposed on individual taxpayers and businesses, while tariffs are paid by importers.
There are two schools of thought among economists regarding the usage of tariffs. While some argue that tariffs are necessary to protect domestic industries and address trade imbalances, others see them as a harmful tool that could potentially drive prices higher over the long term and lead to a damaging trade war by encouraging tit-for-tat tariffs.
During the run-up to the presidential election in November 2024, Donald Trump made it clear that he intends to use tariffs to support the US economy and American producers. In 2024, Mexico, China and Canada accounted for 42% of total US imports. In this period, Mexico stood out as the top exporter with $466.6 billion, according to the US Census Bureau. Hence, Trump wants to focus on these three nations when imposing tariffs. He also plans to use the revenue generated through tariffs to lower personal income taxes.
Last updated
: 2025.07.14
Related articles
USD/JPY: Major support at 145.80 is unlikely to come into view - UOB Group
3 minutes agoNZD/USD: Expected to trade in a range between 0.5895 and 0.5930 - UOB Group
18 minutes agoAUD/USD falls slightly as US Dollar trades steadily ahead of US Services PMI
40 minutes agoUSD/CNH firms near resistance as China's stock index rebounds amid weak growth outlook - BBH
40 minutes agoAUD/USD: Likely to trade in a sideways range between 0.6455 and 0.6495 - UOB Group
41 minutes agoAUD/USD holds steady above 100-day average as mixed household spending data emerges - BBH
46 minutes ago
FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.
Was this article helpful?
We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.
please contact us at [email protected].
Thank you for your feedback.
Thank you for your feedback.
Most viewed
Split demand for Gold in China and India - Commerzbank
On Friday, we reported on the key findings from the World Gold Council's quarterly report on Gold demand in the second quarter and first half of the year. The data is worth taking a second look at.
New
2025.08.05 20:01Gold Price Forecast: XAU/USD extends reversal from $3,385, bears eye $3,345 support
Gold (XAU/USD) is accelerating its reversal from two-week highs at $3,385 on Tuesday.
New
2025.08.05 20:00USD/JPY: Major support at 145.80 is unlikely to come into view - UOB Group
US Dollar (USD) could break below 146.60 against Japanese Yen (JPY); the major support at 145.80 is unlikely to come into view. In the longer run, sharp drop in USD has scope to extend, but any decline may not break below 145.80, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
New
2025.08.05 19:58OPEC+ significantly increases oil production again in September - Commerzbank
The eight OPEC+ countries with voluntary production cuts decided on Sunday, as widely expected, to increase the agreed production volume in September by a further 547,000 barrels per day, Commerzbank's commodity analyst Carsten Fritsch notes.
New
2025.08.05 19:56NZD/USD: Expected to trade in a range between 0.5895 and 0.5930 - UOB Group
New Zealand Dollar (NZD) is expected to trade in a range between 0.5895 and 0.5930 against US Dollar (USD). In the longer run, slowdown in momentum indicates that the odds of NZD reaching 0.5845 are low.
New
2025.08.05 19:44Oil prices under pressure after weak US data - Commerzbank
Oil prices fell by another 2% yesterday after already dropping significantly on Friday. Brent traded at just $68 per barrel at times. That is around $4 less than last Thursday, Commerzbank's commodity analyst Carsten Fritsch notes.
New
2025.08.05 19:35AUD/USD falls slightly as US Dollar trades steadily ahead of US Services PMI
The AUD/USD pair edges lower to near 0.6450 during the European trading session on Tuesday. The Aussie pair ticks down as the US Dollar (USD) gains ground, following the soft United States (US) Nonfarm Payrolls (NFP)-driven sell-off.
New
2025.08.05 19:22USD/CNH firms near resistance as China's stock index rebounds amid weak growth outlook - BBH
USD/CNH is firmer just under key resistance at 7.2000 and China's stock index extended its rebound, BBH FX analysts report.
New
2025.08.05 19:22AUD/USD: Likely to trade in a sideways range between 0.6455 and 0.6495 - UOB Group
Australian Dollar (AUD) is likely to trade in a sideways range between 0.6455 and 0.6495. In the longer run, downward momentum is slowing; a breach of 0.6520 would indicate that AUD is not breaking below 0.6405, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.
New
2025.08.05 19:21AUD/USD holds steady above 100-day average as mixed household spending data emerges - BBH
AUD/USD is holding above its 100-day moving average (0.6430), BBH FX analysts report.
New
2025.08.05 19:16Disclaimer:
All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.
The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.
Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy
