EU Retaliatory Tariffs on the US: Postponed for 90 Days On Thursday, April 10, European Commission President Ursula von der Leyen announced that the decision to impose retaliatory tariffs on American products, which was recently passed, would be postponed for 90 days. She stated that the EU is ready for negotiations but does not rule out any other options. Previously, she welcomed U.S. President Donald Trump's decision to delay most "reciprocal tariffs." She noted that this decision is "an important step toward global economic stability," and emphasized that "a clear and predictable environment is crucial for the proper functioning of trade and supply chains." Before Trump announced the approval of the 90-day tariff deferral on Wednesday, the EU had decided to impose retaliatory tariffs on $23 billion worth of American products, some of which were set to take effect on April 15, others on May 15 and December 1. This move was in response to the U.S. imposing a 25% tariff on European steel and aluminum products. Currently, the EU faces a 25% tariff on steel and aluminum exports to the U.S., as well as a "reciprocal tariff" of 20% on all goods. As the U.S.'s largest trading partner, the EU described these tariffs as "senseless and destructive." To avoid a trade conflict, senior EU trade officials have been shuttling between Brussels and Washington in recent weeks, actively seeking negotiated solutions. A spokesperson for von der Leyen said the commission will "take the necessary time to assess the latest developments and decide on the next steps after thorough consultations with member states and industry." After Trump announced the so-called "reciprocal tariffs," the EU attempted to propose a suggestion to exempt industrial goods from tariffs with the U.S., but it was immediately rejected by President Trump, who called for European countries to purchase $350 billion worth of energy from the U.S. to offset the trade deficit. The EU has repeatedly reiterated its stance of resolving trade disputes through negotiation, and von der Leyen also emphasized this commitment: "Our goal is to establish a frictionless, mutually beneficial trade relationship." Despite this, the head of the EU administration responsible for negotiating trade agreements and disputes on behalf of member states stated that Europe intends to diversify its trade partnerships. The EU will continue to cooperate with countries that account for 87% of global trade and are equally committed to the free flow of goods, services, and ideas, and will work to remove trade barriers within the EU's single market. Source: DW, based on reports from DPA and Reuters Original article: https://www.toutiao.com/article/1829019030572291/ Disclaimer: The article represents the views of the author only.