The European Union announced Monday it would delay retaliatory tariffs on U.S. goods for six months, giving both countries time to implement the trade agreement they reached late last month.

The retaliatory tariffs , which were set to go into effect on Thursday, will be delayed until at least March.

On July 27, Ursula von der Leyen, the president of the European Commission and President Trump agreed to a deal that included a 15% tariff on most goods from the EU. Though the agreement does not currently include the exemptions for car parts or wine and spirits that the EU wants, it's likely to help stabilize prices.

"This political agreement restores stability and predictability for citizens and businesses on both sides of the Atlantic," European Commission spokesperson for tra

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