The European Union will pause the adoption of its retaliatory tariffs on a swathe of U.S. goods for 90 days, European Commission President Ursula von der Leyen said, a day after the White House issued a reprieve on most of its own levies. On Wednesday, EU members voted in favor of the package, which was designed in response to the U.S. 25% tariffs on steel and aluminum launched last month. The duties were due to be finalized in the coming days, with an initial tranche set to come into effect on April 15. The full list of targeted items has not yet been published, though a draft document seen by CNBC in March listed products spanning clothing, poultry, grains, machinery and more. “We took note of the announcement by President Trump. We want to give negotiations a chance,” von der Leyen said on Thursday.
The European Union will pause its first countermeasures against U.S. tariffs after President Donald Trump temporarily lowered the hefty duties less than a day after imposing them on dozens of countries, European Commission chief Ursula von der Leyen said on Thursday. The Trump administration is weighing offers from more than a dozen countries on tariff deals and is close to reaching agreements with some of them, White House economic adviser Kevin Hassett said. "USTR has informed us that there are maybe 15 countries now that have made explicit offers that we're studying and considering and deciding whether they're good enough to present the president," Hassett told reporters at the White House, referring to the U.S. trade representative. Principals in the administration's trade policy will meet at the White House on Thursday to discuss how to prioritize the separate negotiations, Hassett said.
The European Union will suspend its first wave of retaliatory duties against the U.S. for 90 days to focus on negotiations, after the Trump administration paused some global tariffs, a top EU official said. "We want to give negotiations a chance," European Commission President Ursula von der Leyen said, adding that tariffs would kick in if talks aren’t satisfactory. The commission is the bloc's executive arm. The EU continues to prepare possible further retaliatory measures and all options remain on the table, she said.
