The European Union has decided to delay its planned countermeasures against U.S. tariffs for 90 days, following President Donald Trump’s temporary suspension of new duties on dozens of countries.
European Commission President Ursula von der Leyen announced on Thursday that the EU will pause its planned counter-tariffs targeting €21 billion ($23.25 billion) worth of U.S. imports. The move follows President Donald Trump’s decision on Wednesday to ease some of the 25% tariffs on steel and aluminium imports, temporarily reducing trade tensions.
"We want to give negotiations a chance," von der Leyen stated on X. “While finalizing the adoption of the EU countermeasures that saw strong support from our Member States, we will put them on hold for 90 days.”
The EU had been preparing to impose the tariffs starting next Tuesday in response to the U.S. measures. It is still evaluating its position on Trump’s 10% tariffs and proposed levies on automobiles.
Trump’s unexpected shift in trade policy came shortly after the new tariffs were implemented, sending a wave of relief through financial markets already unsettled by a growing trade war with China. The move helped ease what had been the worst bout of market volatility since the early COVID-19 crisis.
EU spokesperson Olof Gill confirmed the 90-day delay but did not offer specifics on the suspension's terms. “We are satisfied that our strategy from day one has been the right one,” Gill said during a press briefing. “We are ready to make deals, let's talk.”
The EU’s decision signals a willingness to de-escalate tensions and engage in talks, while keeping its countermeasures ready should negotiations stall.
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Divers have recovered the bodies of seven Chinese tourists and a Russian driver after their minibus broke through the ice of on Lake Baikal in Russia, authorities said.
President Donald Trump said on Saturday (21 February) that he will raise temporary tariffs on nearly all U.S. imports from 10% to 15%, the maximum allowed under the law, after the Supreme Court struck down his previous tariff program.
Pakistan said it carried out cross-border strikes on militant targets inside Afghanistan after blaming a series of recent suicide bombings, including attacks during the holy month of Ramadan, on fighters it said were operating from Afghan territory.
Iran announced on Saturday (21 February) that it has designated the naval and air forces of European Union member states as “terrorist entities” in a reciprocal move after the EU blacklisted the Islamic Revolutionary Guard Corps (IRGC).
A British national was among at least 19 people killed when a passenger bus plunged off a mountain highway into the Trishuli river in Nepal before dawn on Monday (23 February), authorities said. A New Zealander and a Chinese national were among those injured.
European Union Foreign Policy Chief Kaja Kallas has said the bloc is unlikely to reach agreement on a new package of sanctions against Russia at Monday’s meeting of EU foreign ministers, as continued Hungarian opposition keeps consensus out of reach.
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China says it's making a "full assessment" of the U.S. Supreme Court's tariff ruling and urged Washington to lift "relevant unilateral tariff measures" on its trading partners, the Chinese commerce ministry said in a statement on Monday (23 February).
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