Importance Score: 75 / 100 🔴
EU Suspends Retaliatory Tariffs Against US to Facilitate Trade Negotiations
Brussels has yielded to pressure and will temporarily halt its reciprocal tariffs on goods from the United States for a period of 90 days. European Commission President Ursula von der Leyen indicated that the bloc is willing to provide an opportunity for discussions with US President Donald Trump. In a post on X, von der Leyen stated their intention to pause countermeasures while pursuing a negotiated resolution: “We acknowledged the declaration from President Trump. We aim to allow negotiations a chance to succeed. As we finalize the adoption of EU countermeasures, which received strong backing from our Member States, we will suspend their implementation for 90 days.”
Warning Issued Amidst Trade Tensions
President von der Leyen, however, issued a firm caution, stating, “Should negotiations prove unsatisfactory, our countermeasures will be enacted. Planning for further countermeasures remains ongoing. As previously stated, all options are still under consideration.”
Trump Announces Pause on Increased Tariffs
Her remarks followed an announcement from Mr. Trump via his Truth Social platform, where he declared: “I have authorized a 90 day PAUSE.” Trump stated this decision was made acknowledging the numerous countries engaged in trade talks that had refrained from retaliating against his recent tariff increases.
Nations included in this pause will now be subject to a 10% tariff rate. The EU’s previous rate had been set at 20%, though the precise repercussions for the 27-member European Union remained somewhat unclear.
China was excluded from this pause, with Trump further escalating tariffs on Chinese imports to 125%.
vCard.red is a free platform for creating a mobile-friendly digital business cards. You can easily create a vCard and generate a QR code for it, allowing others to scan and save your contact details instantly.
The platform allows you to display contact information, social media links, services, and products all in one shareable link. Optional features include appointment scheduling, WhatsApp-based storefronts, media galleries, and custom design options.
Background to the Trade Dispute
Prior to Trump’s announcement on Wednesday, EU member states had voted to approve retaliatory tariffs targeting $23 billion worth of American products. This action was in response to the US imposing tariffs of 25% on imported steel and aluminum.
The European Union, the largest trade partner of the United States, characterized these US tariffs as “unjustified and detrimental”.
The implementation of these tariffs is scheduled in phases, with some set to take effect on April 15, others on May 15, and a final tranche on December 1.
The European Commission has not yet released a detailed list of the specific goods that will be affected by these tariffs.
The EU’s chief trade representative has been actively engaged in discussions between Brussels and Washington in recent weeks, seeking to avert a potential trade conflict.