Von der Leyen welcomes Trump’s suspension of tariffs: “An important step towards global economic stability.”
European Commission President Ursula von der Leyen Welcomes Trump’s Tariff Suspension
On Thursday, Ursula von der Leyen, the President of the European Commission, expressed her satisfaction following U.S. President Donald Trump’s decision to temporarily suspend certain recently imposed tariff rates. She described this move as “an important step towards stabilizing the global economy.”
In a statement, von der Leyen emphasized the significance of having “clear and predictable” trade rules to ensure the proper functioning of international trade and production chains. The announced suspension, which affects tariffs imposed on all countries except China, will last for a period of 90 days.
The head of the European executive reaffirmed the European Union’s commitment to engaging in constructive dialogue with the United States, aiming for a “frictionless and mutually beneficial” trading relationship. She also highlighted Europe’s strategy of diversifying its trading partners, collaborating with countries that represent “87% of global trade” and share similar values regarding free and open exchange.
Moreover, Ursula von der Leyen brought attention to ongoing efforts to eliminate internal barriers within the European single market, which she considers a vital pillar of the EU’s stability and resilience, particularly during periods of economic uncertainty.
It’s worth noting that President Trump announced on Wednesday an increase in tariffs targeted at China while simultaneously suspending tariffs on other trading partners for three months. This decision prompted an immediate reaction in the markets: Wall Street, recently shaken by trade tensions, saw a significant rebound, along with a rise in oil prices following a period of decline.
