EU to suspend 93 billion euro retaliatory trade package against US for 6 months

BRUSSELS, Jan 23 (Reuters) - The European Commission said on Friday it would propose suspending for another ​six months an EU package of retaliatory trade ‌measures against the U.S. worth 93 billion euros ($109.19 billion) that would otherwise ‌kick in on February 7.

The package, prepared in the first half of last year when the European Union was negotiating a trade deal with the United States, was ⁠put on hold ‌for six months when Brussels and Washington agreed on a joint statement on trade in ‍August 2025.

U.S. President Donald Trump's threat last week to impose new tariffs on eight European countries over Washington's push to acquire ​Greenland had made the retaliatory package a handy ‌tool for the EU to use had Trump followed through on his threat.

"With the removal of the tariff threat by the U.S. we can now return to the important business of implementing the joint EU-US statement," Commission ⁠spokesman Olof Gill said.

The Commission will ​soon make a proposal "to roll ​over our suspended countermeasures, which are set to expire on February 7," Gill said, adding the ‍measures would ⁠be suspended for a further six months.

"Just to make absolutely clear -- the measures would remain suspended, but ⁠if we need them at any point in the future, they ‌can be unsuspended," Gill said.

($1 = 0.8517 euros)

(Reporting by ‌Jan StrupczewskiEditing by Gareth Jones)