EU to Suspend Planned Counter Tariffs on €93 Billion of US Goods

The European Union will suspend retaliatory tariffs on €93 billion ($109 billion) of US goods for another six months after US President Donald Trump backed down from his threat to impose levies on some EU countries that opposed his push to annex Greenland.

The European Commission, the EU’s executive arm that handles trade matters for the bloc, is planning to table a proposal to extend the suspension of the countermeasures, which is due to expire Feb. 7, according to spokesperson Olof Gill.

“We achieved our objective through diplomatic and political means which will always be our preference rather ...