P resident Donald Trump said the U.S. was “getting very close” to a deal with China, while also threatening to impose higher tariffs on the European Union as he gave several trade updates early Tuesday. Trump said the U.S. was “getting along very well” with Beijing and that a deal was close, in an interview with CNBC.

The European Union has suspended retaliatory tariffs on US goods worth €93 billion, after reaching a last-minute deal with Washington.

The European Union said on Monday it would delay its countermeasures against President Donald Trump’s tariffs by six months. “On 27 July 2025, European Commission President Ursula von der Leyen and US President Donald J.