The European Union has announced that it will be holding off on imposing retaliatory tariffs against the United States, following US President Donald Trump’s decision to pause tariff hikes for 90 days. This move comes as a gesture of goodwill, with European Commission President Ursula von der Leyen stating that the EU wants to “give negotiations a chance.”
Trump’s recent announcement of a 90-day pause for nations affected by higher US import tariffs means that the EU is willing to engage in discussions and potentially find common ground. However, it’s important to note that Trump’s universal 10% levy for all countries (except China) will still be in place, as well as the 25% rate for aluminium, steel, and cars entering the US.
This development marks a temporary truce in the ongoing trade tensions between the EU and the US, providing a window of opportunity for both parties to seek mutually beneficial resolutions. It remains to be seen how negotiations will progress in the coming months, but for now, the EU’s decision to halt counter-tariffs demonstrates a willingness to engage in diplomatic dialogue and find a way forward.
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