Ursula von der Leyen Responds to Trump's Tariff Pause: What It Means for Global Trade

EU Welcomes Trump's Temporary Tariff Halt

Brussels: Ursula von der Leyen, the President of the European Commission, expressed her approval of President Donald Trump's recent decision to pause most tariffs imposed by the US. However, she refrained from confirming whether the European Union would continue with its planned retaliatory actions.

Trump announced a 90-day suspension of tariffs, acknowledging over 75 nations that have engaged in trade negotiations without retaliating against his recent tariff hikes. The countries affected by this pause will now face a 10% tariff, a reduction from the EU's previous rate of 20%, although the exact impact on the 27-member bloc remains uncertain.

Notably, China was excluded from this pause, with Trump increasing tariffs on Chinese imports to a staggering 125%.

Von der Leyen characterized the suspension of reciprocal tariffs as a significant move towards stabilizing the global economy, emphasizing the necessity for clear and predictable conditions for trade and supply chains.

Prior to Trump's announcement, EU member states had voted to implement retaliatory tariffs on $23 billion worth of goods in response to his 25% tariffs on steel and aluminum imports, which the EU deemed 'unjustified and damaging.'

These tariffs are scheduled to be rolled out in phases, with some set to take effect on April 15, others on May 15, and the remainder on December 1. The EU Commission has yet to release a detailed list of the affected goods, as its chief trade official has been actively negotiating between Brussels and Washington to prevent further conflict.

Despite the pause, von der Leyen did not indicate any changes to the EU's timeline for implementing these tariffs.

The EU, recognized as the largest trading bloc globally, reiterated its preference for a negotiated resolution to trade disputes. Von der Leyen reaffirmed this commitment, aiming for seamless and mutually beneficial trade.

Moreover, she stated that Europe plans to diversify its trade relationships, engaging with nations that represent 87% of global trade and share a commitment to free and open commerce, while also working to eliminate barriers within its single market.

"Together, Europeans will emerge stronger from this crisis," von der Leyen concluded.