European Commission President Ursula von der Leyen today welcomed US President Donald Trump's announcement to temporarily suspend new reciprocal tariffs such as those applied to the European Union (EU), pending the stabilization of the global economy.
"I welcome President Trump's announcement to suspend reciprocal tariffs. This is an important step towards stabilizing the global economy. Clear and predictable conditions are essential for the functioning of trade and supply chains," the leader of the EU executive responded in a statement published today.
For the president of the institution responsible for EU trade policy, "tariffs are taxes that only harm companies and consumers", which is why Brussels "remains committed to constructive negotiations" with Washington, having already proposed, unsuccessfully, a zero tariff agreement between the European Union and the United States.
The ambition is, according to Ursula von der Leyen, to achieve "frictionless and mutually beneficial" trade exchanges.
The reaction comes after Donald Trump announced on Wednesday that he would suspend the application of new tariffs on more than 75 countries for 90 days while trade negotiations, particularly with the EU, are underway.
Earlier that day, the EU approved 25% tariffs on US goods in response to those imposed by the United States on European steel and aluminum.
In recent days, stock markets around the world have seen sharp losses due to trade tensions following announcements by the US administration.
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