BURSTThe European Union (EU) is putting its retaliatory tariffs on hold for 90 days after President Trump instituted a pause on his sweeping duties for most U.S. trading partners, European Commission President Ursula von der Leyen unveiled early Thursday.
Von der Leyen signaled that the 27-member trading bloc is open to negotiations with the Trump administration, but said if they are not “satisfactory,” the countermeasures will be reinstated.
“We took note of the announcement by President Trump. We want to give negotiations a chance," she said in a statement shared to social platform X. "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."
“If negotiations are not satisfactory, our countermeasures will kick in. Preparatory work on further countermeasures continues,” she continued in the post. “As I have said before, all options remain on the table.”
The decision comes after the U.S. slapped a 20 percent tariff on goods coming from the EU last week as part of Trump's latest trade policy rollout — which included setting a flat 10 percent tariff on all goods coming into the country and higher-priced retaliatory duties against dozens of countries.
In retaliation, EU member countries were set to impose their own tariffs on U.S. goods, including motorcycles and soybeans.
On Wednesday, Trump announced that he will halt the hefty tariffs on most foreign imports for three months, offering nations an opportunity to negotiate a better trade deal with Washington.
China, however, was not included in the latest deal. Instead, the president increased import taxes on Beijing to 125 percent.
The 10 percent baseline tax on all foreign goods and the 25 percent tariff on cars and metals coming from the EU will stay in place, for now.