BRUSSELS, Belgium: The European Union has delayed retaliatory tariffs on American goods in a final push to reach a trade agreement with the Trump administration before an August 1 deadline, EU officials confirmed.

The bloc had been set to impose countermeasures at midnight Brussels time on Monday, but opted to suspend them after President Donald Trump announced plans to raise tariffs to 30 percent on imports from the EU and Mexico starting next month.

"This is now the time for negotiations," said European Commission President Ursula von der Leyen. "We have always been clear that we prefer a negotiated solution." She added that if talks fail, the EU would still be "fully prepared" to implement its planned countermeasures.

Trump's letter to EU officials, which cited the U.S. trade deficit as a national security threat, has added urgency to talks. The EU negotiates trade deals on behalf of all 27 member states and is the U.S.'s largest trading partner.

Europe's biggest exports to the U.S. include cars, pharmaceuticals, aircraft, chemicals, and wine. Any tariffs on these products could affect companies across both continents and create ripple effects throughout the global economy.

Italy's Foreign Minister Antonio Tajani is expected in Washington on Monday for meetings with U.S. officials and members of Congress. Tajani's office said he emphasised the need to "negotiate with one's head held high" in recent conversations with EU allies.

Trump adviser Kevin Hassett said the president was dissatisfied with current trade drafts and wanted "better" deals. "To basically put a line in the sand, he sent these letters out," Hassett told ABC News.

EU trade ministers will meet on Monday to coordinate their approach. Von der Leyen also cited the need to diversify trade partners, announcing closer ties with Indonesia during a press conference in Brussels.