EU SUSPENDS RETALIATORY TARIFFS ON THE US
The European Union will suspend retaliatory tariffs on the US in response to Donald Trump’s decision on 9 April to ‘pause’ duties on most US trading partners, Ursula von der Leyen said in a statement on 10 April. "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," von der Leyen said, adding: "If negotiations are not satisfactory, our countermeasures will kick in."
Von der Leyen noted that the Commission will continue working on its response to the US 25% tariff on automobiles and 10% "universal" levy that still remain in force. "Preparatory work on further countermeasures continues," she said, adding that "all options remain on the table".
On Wednesday President Trump declared a 90-day “pause” on the “reciprocal tariffs” announced last week, which included a 20% tariff for EU imports.