EU pauses tariffs against US for 90 days

(Sharecast News) - The European Union said it was pausing new tariffs against the US for 90 days, opening the door for talks with US President with Donald Trump.

The move followed Trump's decision last night to pause tariffs on countries who had not retaliated against his initial raft trade levies for 90 days while reducing them to 10%.

"We took note of the announcement by President Trump. We want to give negotiations a chance," said European Commission Ursula von der Leyen.

"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."

"If negotiations are not satisfactory, our countermeasures will kick in. Preparatory work on further countermeasures continues. As I have said before, all options remain on the table."

Reporting by Frank Prenesti for Sharecast.com