EU Pauses Retaliatory Tariffs Against US for 90 Days

The European Union has announced a 90-day pause on retaliatory tariffs against the United States, coinciding with President Donald Trump's decision to delay sweeping tariffs on EU exports. European Commission President Ursula von der Leyen stated that this move is intended to allow for negotiations to take place, emphasizing that the EU is prepared to respond if talks do not yield satisfactory results. The proposed countermeasures, which targeted approximately €21 billion in U.S. goods, were initially approved but will now be on hold while negotiations are pursued. Von der Leyen reiterated the EU's commitment to a potential 'zero-for-zero' tariff deal, which Trump previously dismissed. The global trade environment remains tense, particularly concerning escalating tariffs between the U.S. and China. This development signals a potential easing of the trade war that has impacted markets and international relations.