The European Union introduced Monday it could delay retaliatory tariffs on U.S. items for six months, giving each international locations time to implement the commerce settlement they reached late final month.

The retaliatory tariffs, which have been set to enter impact on Thursday, can be delayed till no less than March.

On July 27, Ursula von der Leyen, the president of the European Fee and President Trump agreed to a deal that included a 15% tariff on most items from the EU. Although the settlement doesn’t at the moment embrace the exemptions for automobile elements or wine and spirits that the EU desires, it is probably to assist stabilize costs. 

“This political settlement restores stability and predictability for residents and companies on each side of the Atlantic,” European Fee spokesperson for commerce Olof Gill stated in an announcement to CBS Information. 

The Fee stated it’s working with the U.S. to finalize an announcement on the settlement. 

“With these targets in thoughts, the Fee will take the mandatory steps to droop by 6 months the EU’s countermeasures towards the U.S., which have been resulting from enter into drive on 7 August,” the spokesperson stated.

The pause on retaliatory tariffs will take impact Tuesday.

CBS Information has reached out to the White Home for remark.