BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - The European Union has welcomed US President Donald Trump's 3-month pause on reciprocal tariffs he imposed worldwide.
In a dramatic move Wednesday, Trump announced that he is suspending the steep hike in import tariffs for a period of 90 days, except for China.
Trump said he is going to increase duty on goods imported from China to 125 percent from 104 percent hours after China raised additional Tariffs on U.S. imports To 84 percent.
European Commission President Ursula von der Leyen said Trump's announcement to pause reciprocal tariffs is an important step towards stabilizing the global economy.
'Clear, predictable conditions are essential for trade and supply chains to function.'
'Tariffs are taxes that only hurt businesses and consumers. That's why I've consistently advocated for a zero-for-zero tariff agreement between the European Union and the United States,' she said in a statement.
The executive head of the European Commission said the 27-nation bloc remains committed to constructive negotiations with the United States, with the goal of achieving frictionless and mutually beneficial trade.
'At the same time, Europe continues to focus on diversifying its trade partnerships, engaging with countries that account for 87% of global trade and share our commitment to a free and open exchange of goods, services, and ideas.'
'Finally, we are stepping up our work to lift barriers in our own single market. This crisis has made one thing clear: in times of uncertainty, the single market is our anchor of stability and resilience,' Ursula von der Leyen added.
She vowed that she and her team will continue to work day and night to protect European consumers, workers and businesses, and expressed confidence that 'Together, Europeans will emerge stronger from this crisis.'
The European Union's welcome statement came a day after EU Member States voted in favor of the European Commission's proposal to introduce trade countermeasures against the United States.
The EU members also said that the countermeasures can be suspended at any time, if the U.S. agrees to a fair and balanced negotiated outcome.
European stock markets rallied after Trump's change of stand while Chinese Yuan fell to its weakest level in many years.
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News
