Trump tariff pause EU response

After U.S. President Donald Trump’s announcement to delay the implementation of increased tariffs, the European Union has also postponed its plan to impose retaliatory tariffs on American imports.

According to a report by the global news agency AFP, the European Union (EU) halted its plans to impose retaliatory tariffs on goods coming from the U.S. on Thursday. A week earlier, U.S. President Trump had announced the imposition of new tariffs on imports from nearly 100 countries, including a 20% tariff on goods from European Union countries.

The day before, Trump announced a 90-day suspension of several new tariffs, while increasing the tariffs on Chinese products by an additional 21%, bringing them to 125%.

Following Trump’s announcement on Wednesday, a positive wave was observed in both Asian and European stock markets. The European Union welcomed Trump’s decision, stating that it was “an important step towards stabilizing the global economy.”

After Trump’s announcement, the 27-member bloc also signaled a willingness to compromise by suspending tariffs on U.S. goods worth 20 billion euros for 90 days, which had been imposed in response to duties on steel and aluminum.

European Union President Ursula von der Leyen said in a statement that they wanted to give negotiations a chance. However, she warned that if the talks were not satisfactory, retaliatory measures would begin, and all options would remain on the table.

Like the European Union, other countries are also lining up for negotiations. Canadian Prime Minister Mark Carney described Trump’s U-turn as a “welcome reprieve” and said that Ottawa would begin negotiations for a new economic agreement with Washington after the April 28 elections.

Vietnam also stated that it had agreed to start trade negotiations with the U.S., while Pakistan is sending a delegation to Washington.