EU puts countermeasures on hold as it gears up for talks with Trump
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The European Union has decided to temporarily suspend the new tariff package against the United States, which was set to take effect on April 15th, following the announcement of a 90-day suspension of U.S. tariffs approved yesterday by U.S. President Donald Trump. The European countermeasures would have affected various U.S. products, such as soybeans, copper, and motorcycles, with a total value of nearly €21 billion.
The suspension of European tariffs was discussed by EU ambassadors during an emergency meeting held this morning, while yesterday EU member states had approved the countermeasure package targeting U.S. exports. The EU has chosen a cautious and measured approach to U.S. trade policy, and the suspension of tariffs — also by Brussels — could facilitate negotiations with the Trump administration.
However, European Commission President Ursula von der Leyen emphasized that if negotiations do not yield the expected results, the countermeasures will be implemented. At that point, the EU will still be subject to a basic tariff rate of 10%, like other countries affected by the reciprocal tariffs, with the exception of China, as well as a 25% tariff on steel, aluminum, and vehicles.
The suspension of European tariffs was discussed by EU ambassadors during an emergency meeting held this morning, while yesterday EU member states had approved the countermeasure package targeting U.S. exports. The EU has chosen a cautious and measured approach to U.S. trade policy, and the suspension of tariffs — also by Brussels — could facilitate negotiations with the Trump administration.
However, European Commission President Ursula von der Leyen emphasized that if negotiations do not yield the expected results, the countermeasures will be implemented. At that point, the EU will still be subject to a basic tariff rate of 10%, like other countries affected by the reciprocal tariffs, with the exception of China, as well as a 25% tariff on steel, aluminum, and vehicles.