EU Pauses Countermeasures Amid Trump's Tariff Reversal

The European Union is pausing its countermeasures against U.S. tariffs after President Trump temporarily lowered duties. As negotiations continue, European Commission chief Ursula von der Leyen announced a 90-day suspension. Trump's tariff actions have impacted markets, with ongoing tensions in the U.S.-China trade war.

The European Union will suspend its initial countermeasures against U.S. tariffs, following a temporary reduction in duties imposed by President Donald Trump. EU Commission chief Ursula von der Leyen confirmed the pause, emphasizing the importance of giving negotiations a fair chance over the next 90 days.

The Trump administration is evaluating tariff deals with more than a dozen countries, with agreements reportedly close with some nations. White House economic adviser Kevin Hassett stated that U.S. trade representatives are prioritizing these global negotiations, a move intended to stabilize volatile market conditions seen recently.

Despite the temporary relief, Trump's increased tariffs on Chinese imports continue to escalate tensions. China's response has been firm, with officials indicating a willingness to engage in dialogue only under mutual respect. Meanwhile, EU markets reacted positively to the tariff pause, offering cautious optimism for global economic stability.

(With inputs from agencies.)