Brussels: Europe and the Arabs
European Commission President Ursula von der Leyen said in a statement issued in Brussels on Thursday, "I welcome President Trump's announcement to suspend mutual tariffs. This is an important step towards stabilizing the global economy.
Clear and predictable conditions are essential for trade and supply chains to continue.
Tariffs are taxes that only hurt businesses and consumers. That's why I have consistently advocated for a tariff-free agreement between the EU and the US.
The EU remains committed to constructive negotiations with the US, with the aim of achieving smooth and mutually beneficial trade.
At the same time, Europe continues to focus on diversifying its trading partnerships, engaging with countries that account for 87% of global trade and that share our commitment to a free and open exchange of goods, services, and ideas.
Finally, we are intensifying our efforts to remove barriers in our single market. This crisis has made one thing clear: in times of uncertainty, the single market is the pillar of our stability and resilience."
This came after US President Donald Trump announced A 90-day temporary suspension of tariffs, effective immediately, includes a significant 10% reduction in reciprocal tariffs for the affected countries, excluding China.
In a post on his Truth Social platform, US President Donald Trump announced a 90-day temporary suspension of reciprocal tariffs, accompanied by a significant 10% reduction during this period, confirming that the decision took effect immediately.
In response, Trump revealed his administration's intention to raise tariffs on Chinese imports to 125%, justifying this by what he described as "China's lack of respect for the rules of global markets."
The White House confirmed Trump's announcement, with press secretary Carolyn Levitt indicating that the president had decided to tighten trade sanctions on Beijing, adding: "When China strikes a blow at the United States, President Trump will respond with double force."
Leavitt explained that Washington will continue its trade negotiations while maintaining a 10% tariff level during the negotiation period.