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

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 Trump administration’s late July agreement with the European Union (EU) will, among other things, free the relevant aviation supply chain from tariffs.