After U.S. President Donald Trump announced a 90-day suspension of reciprocal tariffs, the European Union (EU), an alliance of European countries, has also declared a suspension of its retaliatory tariffs on U.S. imports.
President of the European Commission Ursula von der Leyen stated that the European Union has decided to suspend its retaliatory tariffs on U.S. imports for 90 days.
In a statement on Friday, Ursula von der Leyen said, “We have taken note of President Trump’s announcement. We want to keep the door open for dialogue. After consulting with our member states, we will suspend our countermeasures for 90 days before taking any further action.”
“However, if the discussions do not prove satisfactory, we will proceed with retaliatory measures.”
The European Union, comprising 27 countries, has been impacted by three rounds of U.S. tariffs under President Trump. First, a 20% tariff on all goods; second, a 25% tariff on car exports; and third, a 25% tariff on steel and aluminum.
In response to Trump’s 25% tariff on EU steel and aluminum imports, the EU had earlier announced a retaliatory 25% tariff on U.S. imports. According to the previous announcement, this retaliatory tariff was set to be implemented in three phases until December.
However, on Wednesday, Trump announced that the newly increased tariffs on goods from all countries except China would be suspended for 90 days.
Although Trump has temporarily suspended the most recent 25% tariff, he has not lifted the tariff on the automotive sector and has maintained the initial 10% tariff imposed on goods from all countries.
