Brussels: EU chief Ursula von der Leyen has expressed approval of US President Donald Trump’s recent decision to pause planned tariff increases, describing it as an “important step towards stabilising the global economy”. “Clear, predictable conditions are essential for trade and supply chains to function,” stated the European Commission president, highlighting the significance of this development.
According to Lao News Agency, von der Leyen emphasized the European Union’s commitment to constructive negotiations with the United States, reiterating the bloc’s proposal of a bilateral tariff exemption for cars and other industrial goods. Previously, the EU faced a 20 percent tariff rate as part of Trump’s universal tariffs, prompting the commission to prepare a response while expressing a preference to avoid retaliation.
Last week, Trump announced new tariffs that caused turmoil in global markets until his recent decision to halt these measures for nearly all nations for 90 days. The 27-nation EU is among several countries, such as Japan, that will be subjected to a 10 percent baseline tariff rate, while China remains excluded from this pause.
The EU still faces existing US tariffs on steel, aluminum, and the auto sector. In response, the bloc retaliated on Wednesday. Trump’s assertive trade policies and confrontational stance against the EU have pushed Brussels to seek closer trade ties with other countries, including India.
“Europe continues to focus on diversifying its trade partnerships, engaging with countries that account for 87 percent of global trade,” von der Leyen remarked. She further mentioned the EU’s plans to strengthen its single market and eliminate trade barriers.