The European Union will suspend retaliatory tariffs on U.S. goods scheduled to take effect Monday in hopes of reaching a trade deal with the Trump administration by the end of the month.

U.S. stock futures fell Sunday, a day after President Donald Trump threatened to impose new 30% tariffs against imports from Mexico and the European Union.

Economists had already downgraded growth for the European Union, and the new duties would hit industries there especially hard. Companies are looking for ways to blunt the impact.

Kristi Noem says Trump wants FEMA 'remade,' and more tariffs are set for U.S. trade partners: Weekend Rundown Homeland Security Secretary Kristi Noem said President Donald Trump wants the Federal Emergency Management Agency “remade” rather than dismantled entirely.

President Donald Trump released two tariff letters on Saturday, imposing duties of 30% on products from Mexico and the European Union.

The European Union said on Sunday (July 13) it would extend its suspension of countermeasures to U.S. tariffs until early August and continue to press for a negotiated settlement, after U.S. President Donald Trump ratcheted up his trade war on the bloc.

The EU is preparing to step up its engagement with other countries hit by Donald Trump’s tariffs following a slew of new threats to the bloc and other US trading partners, according to people familiar with the matter.