EU delays countermeasures for 90 days to negotiate with US
The European Commission is suspending its countermeasures against US tariffs for ninety days, it announced on Thursday. "We want to give negotiations a chance," said European Commission president Ursula von der Leyen in a press release.
US president Donald Trump announced on Wednesday evening that the increased "reciprocal" tariffs would be delayed for ninety days for countries willing to negotiate. The EU will give negotiations with the US a chance, von der Leyen announced.
"While we finalise the adoption of the EU countermeasures, which have been strongly supported by our member states, we will put them on hold for 90 days," the Commission president said. "If the negotiations are not satisfactory, our countermeasures will take effect".
Steel tariffs remain in place
The EU's reciprocal tariffs were not a response to the global tariffs announced by Trump last week, which are now on hold. Rather, it was Europe's response to the 25 per cent tariffs on steel and aluminium imposed by the US earlier this year. And those remain in place, a Commission spokesman said.
"Yes, the US steel and aluminium tariffs are now in place, not just against us, but against the whole world," the spokesperson confirmed. "But we will not take any further steps now because we want to leave room for negotiations."
Von der Leyen added that the EU would continue to work on countermeasures during negotiations with the Trump administration. The bloc was hit with a 20 per cent import tariff. "As I have said before, all options remain on the table," she concluded.
Von der Leyen and Trump meet at the World Economic Forum in 2020. PHOTO © JIM WATSON / AFP
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