EU will put tariff retaliation on hold for 90 days to match Trump's pause

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EU will put tariff retaliation on hold for 90 days to match Trump's pause - Business Standard

Quick Summary:

European Commission President Ursula von der Leyen said that the commission, which handles trade for the 27 member countries, took note of the announcement by President Trump.New tariffs on 20.9 billion euros ($23 billion) of US goods will be put on hold for 90 days because we want to give negotiations a chance, she said in a statement.

The European Union's executive commission said Thursday it will put its retaliation measures against new US tariffs on hold for 90 days to match President Donald Trump's pause on his sweeping new tariffs and leave room for a negotiated solution.

But she warned: If negotiations are not satisfactory, our countermeasures will kick in.