In a dramatic turn in the ongoing transatlantic trade standoff, the European Union announced Thursday it will hit the brakes on planned tariffs targeting U.S. products—just one day after former President Donald Trump revealed a 90-day suspension of duties on European imports. The pause, a tactical retreat in a volatile trade chess match, could ease tensions but leaves both sides teetering on an economic knife-edge.
€28 Billion Tariff Avalanche Put on Ice
European Commission President Ursula von der Leyen confirmed the delay in a press statement, citing the need for “clear, predictable conditions” to keep global supply chains from snapping under pressure. The EU had been preparing to unleash tariffs on €28 billion ($31 billion) worth of American exports, spanning goods from food to fashion to industrial metals. But now, that economic avalanche is paused—at least temporarily.
Trump’s 90-day deferment—announced in a Truth Social post—effectively capped the U.S. tariffs on EU products at 10%, providing a much-needed sigh of relief to industries on both sides of the Atlantic.
“Tariffs are taxes that only hurt businesses and consumers,” von der Leyen stressed. “That’s why I’ve consistently pushed for a zero-for-zero tariff deal with the United States.”
