France, Aug. 5 -- The European Union has suspended retaliatory tariffs on US goods worth €93 billion, after reaching a last-minute deal with Washington.

The tariffswere due to begin on Wednesday and would have targeted US exports such as soybeans, cars, aircraft and whisky.

The European Commission confirmed on Tuesday that the tariffs would not go ahead, putting the suspension into effect for six months.

"The commission has adopted the necessary legal procedures to suspend the implementation of our EU countermeasures, which were due to kick in on 7 August," said EU trade spokesperson Olof Gill.

Commission president Ursula von der Leyen reached a framework agreement with US president Donald Trump on 27 July, just days before the ...