EU halts countermeasures against US tariffs for 90 days

Brussels [Belgium], April 10 (ANI): European Commission President Ursula von der Leyen on Thursday stated that the EU will pause its countermeasures against the US tariffs for 90 days to give "negotiations a chance."

She further warned that countermeasures will kick in if "negotiations are not satisfactory."

Sharing a post on X, von der Leyen wrote, "We took note of the announcement by President Trump. We want to give negotiations a chance. While finalising the adoption of the EU countermeasures that saw strong support from our Member States, we will put them on hold for 90 days."

"If negotiations are not satisfactory, our countermeasures will kick in. Preparatory work on further countermeasures continues. As I have said before, all options remain on the table," the post added.

Earlier, von der Leyen welcomed US President Donald Trump's announcement to pause reciprocal tariffs for dozens of countries, calling it a necessary move to help stabilise the global economy.

"I welcome President Trump's announcement to pause reciprocal tariffs. It's an important step towards stabilising the global economy," von der Leyen posted on X.

"Clear, predictable conditions are essential for trade and supply chains to function. Tariffs are taxes that only hurt businesses and consumers. That's why I've consistently advocated for a zero-for-zero tariff agreement between the European Union and the United States," she added.

Notably, Trump had said the United States would implement a 90-day pause on reciprocal tariffs for more than 75 countries currently engaged in trade discussions with Washington. These countries, including India, have reportedly refrained from retaliating against US trade policies and have requested dialogue through various US departments such as Commerce, Treasury, and the United States Trade Representative (USTR)

"Based on the lack of respect that China has shown to the World's Markets, I am hereby raising the Tariff charged to China by the United States of America to 125 per cent, effective immediately," Trump wrote on Truth Social amid intensifying trade tensions between the two nations as China imposed an additional import levy on American goods, imposing an 84% tariff from Thursday.

"Conversely... I have authorised a 90-day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10 per cent, also effective immediately," the post added. (ANI)

(The story has come from a syndicated feed and has not been edited by the Tribune Staff.)