EU Pauses Countermeasures Against US Tariffs to Allow Space for Negotiations

Excerpt:  “The European Union has paused its countermeasures on unjustified US trade tariffs to allow time and space for EU-US negotiations. The pause was first announced by EU Commission President Ursula von der Leyen last week, and takes legal effect tomorrow. The decision – which puts on hold for up to 90 days the EU’s planned countermeasures against US tariffs on EU steel and aluminium imports – was made in response to the US delaying by 90 days its so-called reciprocal tariffs. In total, the suspended EU countermeasures cover €21 billion of US exports. As part of the EU’s push to find a negotiated outcome with the US, EU Trade Commissioner Maroš Šefčovič is today in Washington DC to hold meetings with his US counterparts in order to explore the ground for a negotiated solution. As President von der Leyen made clear in her statement, the EU wants ‘to give negotiations a chance’ but should talks not prove satisfactory, the EU countermeasures will kick in. In addition to these now-suspended countermeasures against US tariffs on steel and aluminium, preparatory work on further EU countermeasures continues.”