EU pauses counter-tariffs on U.S. for 90 days after Trump’s halt
Global News
On Wednesday, U.S. President Donald Trump put a 90-day pause on his sweeping new 'reciprocal tariffs' on countries facing rates higher than his 10 per cent baseline.
The European Union’s executive commission said Thursday it will put retaliation measures on hold for 90 days to match President Donald Trump’s pause on his sweeping new tariffs on global trading partners and leave room for a negotiated solution.
European Commission President Ursula von der Leyen said that the commission, which handles trade for the bloc’s 27 member countries, “took note of the announcement by President Trump.”
New tariffs on 20.9 billion euros ($23 billion) of US goods will be put on hold for 90 days because “we want to give negotiations a chance,” she said in a statement.
But she warned: “If negotiations are not satisfactory, our countermeasures will kick in.”
Trump imposed a 20 per cent levy on goods from the EU as part of his onslaught of tariffs of 10% and upward against global trading partners but said Wednesday he will pause them for 90 days to give countries a chance to negotiate solutions to U.S. trade concerns.
Countries subject to the pause will face Trump’s 10 per cent baseline tariff.
Before Trump’s announcement, EU member countries voted to approve a set of retaliatory tariffs on $23 billion in goods in response to his 25 per cent tariffs on imported steel and aluminum that took effect in March. The EU, the largest trading partner of the U.S., described them as “unjustified and damaging.”
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