Now, EU pauses counter-tariffs; Trump to consider trade deals
The European Union will pause its first countermeasures against US tariffs after President Donald Trump temporarily lowered the hefty duties less than a day after imposing them on dozens of countries, European Commission chief Ursula von der Leyen said on Thursday.
The Trump administration is weighing offers from more than a dozen countries on tariff deals and is close to reaching agreements with some of them, White House economic adviser Kevin Hassett said.
“USTR has informed us that there are maybe 15 countries now that have made explicit offers that we’re studying and considering and deciding whether they’re good enough to present the president,” Hassett told reporters at the White House, referring to the US trade representative.
Principals in the administration’s trade policy will meet at the White House on Thursday to discuss how to prioritise the separate negotiations.
The EU was due to launch counter-tariffs on about 21 billion euros ($23.25 billion) of US imports next Tuesday in response to Trump’s 25% tariffs on steel and aluminium. It is still assessing how to respond to US car tariffs and the broader 10% levies that remain in place.
“We want to give negotiations a chance,” von der Leyen said on X. “While finalising the adoption of the EU countermeasures that saw strong support from our Member States, we will put them on hold for 90 days.”
Trump kept the pressure on China, the world’s No 2 economy and second-biggest provider of US imports, with an increase of tariffs on Chinese imports to 125% from the 104% level that kicked in on Wednesday.
The overall US tariff rate on Chinese imports has risen to 145%, a White House official has confirmed.
Beijing may again respond in kind after already imposing 84% tariffs.
Open to fair dialogue, Beijing tells US
Beijing has reduced the import of US films and called on Washington to return to fair dialogue without threats. Meanwhile, a rare survey of Chinese public opinion highlighted growing concerns of the Chinese public over the impact of the trade war on their country. Trump’s tariffs will affect over $438 bn in Chinese exports, while China has imposed tariffs on 84% of $143 bn in US exports.
World