The move comes just hours after Trump announced a 90-day pause before a 20% “reciprocal” tariff rate was set to hit nearly all EU exports. That rate will now be 10%.
The European Union will delay for 90 days the implementation of its counter tariffs against the US over the 25% duties President Donald Trump imposed last month on the bloc’s steel and aluminum exports.
The EU will move forward with the tariffs that would hit around €21 billion ($31.08 billion) of US goods and then immediately suspend them when they take effect, according to people familiar with the matter, who spoke on the condition of anonymity.
