London
CNN
—
The European Union has announced it is putting retaliatory measures against the United States on hold for 90 days after US President Donald Trump unveiled a similar pause Wednesday.
“We want to give negotiations a chance,” European Commission President Ursula von der Leyen wrote on X Thursday.
The EU on Wednesday backed its first countermeasures against steel and aluminum tariffs announced by Trump in March. Just after the EU agreed on its response, the US president announced the 90-day pause on the “reciprocal” tariffs he had placed on dozens of countries.
Von der Leyen added: “If negotiations are not satisfactory, our countermeasures will kick in.”
The bloc of 27 countries had been hit by three sets of US tariffs: 25% tariffs on steel and aluminum exports, 25% levies on car exports and 20% so-called reciprocal tariffs on all other goods.
Despite the pause on the “reciprocal” tariffs, Trump said the industry-specific ones would remain in place – as well as his 10% flat-rate minimum tariff on all nations.
Although Trump’s abrupt tariff reversal came as a relief to many in Europe, investors and analysts have warned that the unpredictable, stop-start nature of his trade policy will likely dampen investment and could slow global economic growth.
“Clear, predictable conditions are essential for trade and supply chains to function,” von der Leyen said in a separate statement Thursday.
While the EU “remains committed to constructive negotiations” with the US, the bloc is also focused on “diversifying its trade partnerships, engaging with countries that account for 87% of global trade,” von der Leyen said.
This is a developing story and will be updated.
