The European Union has suspended its plans to retaliate against the United States over its tariffs on aluminum and steel after President Donald Trump announced on Wednesday, April 9, that he was suspending the highest tariffs for 90 days, with the exception of duties on China.
If they had remained in force, imports from the EU to the US would have been taxed at 20%, but now they will be taxed at 10%, just like imports from most other trading partners.
"We have taken note of President Trump's statement. We want to give negotiations a chance," European Commission President Ursula von der Leyen said in a statement posted on the European Commission's website on Thursday. "Completing the adoption of EU countermeasures, which have received strong support from our member states, we will postpone them for 90 days."
She added that countermeasures could still be applied if the negotiations proved unsatisfactory.
EU member states had just voted on countermeasures that could affect a wide range of goods worth about 20 billion euros ($29 billion) when Trump announced a pause. According to reports, the list of goods subject to sanctions was wide and included yachts, diamonds, eggs, dental floss, sausages and poultry meat. They indicated that the EU is also considering tariffs on soybeans from December 1.
Sources close to the case said that, in their opinion, most of the pulp and paper products have now been excluded from the list.
A total tariff of 10% on U.S. imports from most trading partners remains in effect, and the U.S. is currently applying a 125% tariff on China, while China has announced counter tariffs of 84%.
