European Union temporarily halts imposition of counter-duties for a duration of 90 days
The European Union (EU) has announced that it is preparing for countermeasures in response to the reinstatement of tariffs by U.S. President Donald Trump. The decision to prepare for these countermeasures was made in collaboration with member states.
On Wednesday evening, Trump reinstated tariffs of 20% against numerous trading partners, including the EU. The move has raised concerns among EU leaders, with Ursula von der Leyen, the President of the EU Commission, stating that tariffs hurt businesses and consumers.
In a bid to avoid these tariffs and foster a smooth and mutually beneficial trade relationship, the EU Commission proposed a zero-tariff agreement to President Trump on Monday. However, Trump reportedly reacted negatively to this proposal.
Despite this setback, the EU remains committed to constructive negotiations with the United States. Von der Leyen stated that the EU wants to negotiate with the U.S. for a smooth and mutually beneficial trade relationship.
If negotiations do not yield satisfactory results, the EU has threatened to implement countermeasures. According to a Commission spokesperson, the EU will continue to prepare for further countermeasures and keep all options open.
Notably, the countries on the list of affected partner countries where President Trump reintroduced the 20% tariffs included India (with 50% tariffs specifically mentioned) and Switzerland (which faced 39% tariffs following a diplomatic dispute). No other specific countries are named in the provided sources as having 20% tariffs reimposed by Trump.
The EU's countermeasures are not intended to be a first resort. Von der Leyen stated that the EU wants to give negotiations a chance before implementing countermeasures. The EU continues to hope for a positive outcome in its negotiations with the U.S. and a resolution to the tariff issue.
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