Von der Leyen welcomes Trump’s suspension of tariffs: “An important step towards global economic stability.”
European Commission President Pleased with Trump’s Tariff Suspension
European Commission President Ursula von der Leyen expressed her satisfaction on Thursday following U.S. President Donald Trump’s decision to temporarily suspend certain tariffs recently imposed on various countries. She described this move as a "significant step towards stabilizing the global economy."
In a statement, von der Leyen emphasized the importance of "clear and predictable" trade rules to ensure the smooth functioning of international trade and production chains. The announced suspension, which pertains to 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 maintain a constructive dialogue with the United States, aiming for "frictionless and mutually beneficial" trade. She also highlighted the EU’s strategy to diversify its trade partners, collaborating with countries representing "87% of global trade" that share similar values regarding free and open exchanges.
Furthermore, Ursula von der Leyen drew attention to ongoing efforts to eliminate internal barriers within the European single market, which she considers a crucial pillar of the EU’s stability and resilience, particularly during times of economic uncertainty.
For context, President Trump announced on Wednesday a new increase in tariffs targeting China while suspending tariffs against other trade partners for three months. This decision triggered an immediate reaction from the markets: Wall Street, which had recently been weakened by trade tensions, experienced a notable rebound, as did oil prices, which surged after a period of decline.
