Following the 90-day pause by President Trump on the individualized reciprocal tariffs (see our blog post here), the European Union (EU) followed suit and introduced a 90-day postponement of its retaliatory tariffs aimed at the US. This decision was made to allow both parties to engage in further negotiations and potentially reach a more amicable trade agreement.
European Commission President Ursula von der Leyen welcomed President Trump’s decision, stating that the pause would help stabilize the global economy. She emphasized the importance of clear and predictable conditions for trade and supply chains to function effectively. Von der Leyen reiterated her advocacy for a “zero-for-zero” tariff agreement between the EU and the US, aiming for frictionless and mutually beneficial trade. She also highlighted the EU’s commitment to diversifying its trade partnerships and lifting barriers within its single market
Baker McKenzie closely monitors the developments and issues regular alerts accordingly – please also check our Import and Trade Remedies Blog and Looking Ahead: Business Impacts of the Trump Administration for regular updates and insight.
