The European Union on Thursday announced that it would suspend its retaliatory tariff worth 20.9 billion euros ($23 billion) on US goods for 90 days after American President Donald Trump imposed a pause on levies.
European Commission President Ursula von der Leyen acknowledged Trump's announcement and confirmed the suspension of new tariffs on US goods for 90 days to facilitate negotiations. She cautioned that countermeasures would be implemented if talks proved unsuccessful.
Trump had previously imposed a 20% duty on EU goods as part of his broader tariff strategy against international trading partners, but offered a 90-day negotiation window to resolve trade concerns.
Von der Leyen responded positively to Trump's decision to temporarily suspend most US tariffs, though she remained non-committal about the EU's planned countermeasures.
“we want to give negotiations a chance,” she said in a statement but warned: “If negotiations are not satisfactory, our countermeasures will kick in.”
Trump authorised a "90 day PAUSE" for over 75 countries engaged in trade negotiations , reducing their tariff rate to 10%. While the EU previously faced a 20% rate, the specific impact on the 27-nation bloc remained unclear. China, notably excluded, saw its import tax rate increased to 125%.
Von der Leyen characterised the mutual tariff suspension as beneficial for global economic stability, emphasising the importance of reliable trading conditions.
The EU member states had previously approved retaliatory tariffs worth $23 billion, responding to Trump's 25% tariffs on steel and aluminium imports. These measures were scheduled for implementation in phases on April 15, May 15 and December 1.
Commission spokesman Olof Gill indicated they would evaluate recent developments in consultation with member states and industry before determining future actions.
The EU maintained its preference for negotiated solutions while emphasising plans to diversify trade partnerships. Von der Leyen highlighted engagement with nations representing 87% of global trade who share commitment to free commerce.
European Commission President Ursula von der Leyen acknowledged Trump's announcement and confirmed the suspension of new tariffs on US goods for 90 days to facilitate negotiations. She cautioned that countermeasures would be implemented if talks proved unsuccessful.
Trump had previously imposed a 20% duty on EU goods as part of his broader tariff strategy against international trading partners, but offered a 90-day negotiation window to resolve trade concerns.
Von der Leyen responded positively to Trump's decision to temporarily suspend most US tariffs, though she remained non-committal about the EU's planned countermeasures.
“we want to give negotiations a chance,” she said in a statement but warned: “If negotiations are not satisfactory, our countermeasures will kick in.”
Trump authorised a "90 day PAUSE" for over 75 countries engaged in trade negotiations , reducing their tariff rate to 10%. While the EU previously faced a 20% rate, the specific impact on the 27-nation bloc remained unclear. China, notably excluded, saw its import tax rate increased to 125%.
Von der Leyen characterised the mutual tariff suspension as beneficial for global economic stability, emphasising the importance of reliable trading conditions.
The EU member states had previously approved retaliatory tariffs worth $23 billion, responding to Trump's 25% tariffs on steel and aluminium imports. These measures were scheduled for implementation in phases on April 15, May 15 and December 1.
Commission spokesman Olof Gill indicated they would evaluate recent developments in consultation with member states and industry before determining future actions.
The EU maintained its preference for negotiated solutions while emphasising plans to diversify trade partnerships. Von der Leyen highlighted engagement with nations representing 87% of global trade who share commitment to free commerce.
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