The European Union has reportedly decided to pause its planned retaliatory tariffs against the United States in response to President Donald Trump’s recent announcement to suspend most tariffs on various countries, with the exception of China.
European Commission President Ursula von der Leyen announced the 90-day hold on retaliation, allowing time for potential trade negotiations to unfold.
In her statement, von der Leyen acknowledged Trump’s tariff pause, expressing a desire to give negotiations a chance.
However, she warned that if talks do not lead to satisfactory outcomes, the EU’s countermeasures will be implemented.
The EU had previously voted overwhelmingly to impose tariffs on over $20 billion worth of American goods, including products such as soybeans, meats, and textiles, with potential tariffs reaching up to 25%.
Von der Leyen welcomed Trump’s decision as a vital step towards stabilizing global economic conditions, reiterating her support for establishing a “zero-for-zero” tariff agreement with the U.S.
She emphasized that tariffs are essentially taxes that negatively impact both businesses and consumers, and she seeks constructive discussions to foster mutually beneficial trade relations.
At the same time, while the EU pauses its retaliatory actions, Trump has raised tariffs on Chinese goods to 125%, following China’s implementation of an 84% tariff on American products.
Trump remains optimistic about reaching favorable trade deals with all involved countries, stating, “A deal is going to be made with every one of them, and there will be fair deals. I just want fair.”
The outcomes of these negotiations will determine the future trade landscape between the EU and the U.S. in the coming weeks.
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