EU Freezes Retaliatory Measures for 90 Days
(MENAFN) On Thursday, the European Union decided to delay its planned countermeasures for 90 days, which were set to take effect next week in response to US tariffs.
This decision followed an announcement from United States Leader Donald Trump, who declared a temporary halt to the tariffs.
The EU's move was aimed at providing space for ongoing negotiations to progress.
"We took note of the announcement by President Trump. We want to give negotiations a chance," stated European Commission President Ursula von der Leyen on X.
Von der Leyen confirmed that, although the EU had already completed the preparation of its retaliatory actions with "strong support" from member states, the enforcement of these measures would be postponed for three months.
"If negotiations are not satisfactory, our countermeasures will kick in," she warned.
She also noted that the commission is continuing to prepare for additional possible actions.
"As I have said before, all options remain on the table," von der Leyen emphasized.
On Wednesday, President Trump revealed a 90-day delay on tariffs for many nations worldwide.
However, China was excluded from this delay, and instead, the tariff rate on Chinese goods was raised to 125 percent.
Following this announcement, stock markets saw a significant rise as investors reacted to the news of a global reprieve.
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