European Commission President Ursula von der Leyen welcomed U.S. President Donald Trump’s announcement on Thursday that he would pause new “reciprocal tariffs” on most countries for 90 days to allow for negotiations.
“This is an important step toward stabilizing the global economy,” von der Leyen said. “Clear and predictable conditions are crucial for trade and supply chains to function smoothly.”
She reiterated the European Union’s commitment to constructive talks with the U.S., aiming for smooth and mutually beneficial trade.
Meanwhile, EU member states agreed on Wednesday to impose retaliatory tariffs of 10% to 25% on U.S. imports, set to take effect next week. This move comes in response to the U.S. tariffs on steel and aluminum imports introduced about a month ago.
The announcement helped U.S. stocks recover strongly on Wednesday, following a sharp decline in recent days.