EU Suspends Retaliatory Tariffs on U.S. Goods for 90 Days
In a significant move to de-escalate transatlantic trade tensions, the European Union (EU) has announced a 90-day suspension of its planned retaliatory tariffs on U.S. goods.
This decision mirrors U.S. President Donald Trump’s recent 90-day pause on certain global tariffs, creating a window for negotiations aimed at resolving ongoing trade disputes.
European Commission President Ursula von der Leyen emphasized the EU’s commitment to diplomacy, stating, “We want to give negotiations a chance.” She also cautioned that if talks do not yield satisfactory results, the EU’s countermeasures will be implemented.
The EU’s retaliatory measures were initially set to target approximately €21 billion ($23 billion) worth of U.S. goods, including agricultural and industrial products. These tariffs were a response to the U.S.’s earlier imposition of a 25% tariff on steel and aluminum imports. The mutual suspension of tariffs signals a willingness on both sides to engage in constructive dialogue and seek a diplomatic resolution to their trade disagreements.
Despite the temporary halt, the EU remains vigilant, continuing preparations for additional countermeasures should negotiations falter. This approach underscores the EU’s intent to balance openness to dialogue with readiness to protect its economic interests.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
