EU Suspends Tariffs on US Steel and Aluminum Imports for 90 Days to Foster Negotiations

The European Commission (EC) has temporarily suspended tariffs on steel and aluminum imports from the United States for 90 days. This decision aims to facilitate negotiations with Washington, following the U.S. government's decision to postpone the implementation of general tariffs for the same period. EC President Ursula von der Leyen announced that while the EU's countermeasures, which have strong support from member states, are finalized, their application will be suspended for 90 days. This decision comes after President Trump indicated a willingness to maintain 10% tariffs but suspend additional tariffs for countries, including the EU, that are not retaliating against the U.S. and are seeking a negotiated resolution. President von der Leyen stressed the importance of allowing negotiations to proceed but cautioned that countermeasures would be implemented if these negotiations prove unsuccessful. Preparations for further countermeasures are ongoing, with all options under consideration. EU member states had previously approved measures to respond to the 25% tariffs imposed by the U.S. in March on steel and aluminum imports. The EU's countermeasures were initially scheduled to commence on April 15, with a phased implementation targeting a total trade value of €20.9 billion.