The European Union (EU) has announced the suspension of safeguard measures against US tariffs on steel and aluminum imports for 90 days. The decision came after US President Donald Trump backtracked on his tariff plan that resonated in the global market.
European Commission President Ursula von der Leyen announced on social media platform X: “We have taken into account President Trump's statement. We want to give negotiations a chance. Although member states strongly support the EU's retaliatory measures, we will suspend these measures for 90 days.”
The EU was preparing to impose retaliatory tariffs on US products worth around 21 billion euros in response to Trump's 25% tariffs on steel and aluminum imports from the EU. These measures were scheduled to take effect on April 15.
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