VDL welcomes Trump’s decision to pause ‘reciprocal’ tariffs

European Commission President Ursula von der Leyen welcomed in a statement on April 10 US President Trump’s announcement to pause “reciprocal” tariffs.

“It’s an important step towards stabilising the global economy,” Von der Leyen said.

The BBC reported that on April 9, Trump announced a 90-day pause for all countries, except China, with a universal 10 per cent tariff across the board. Trump hiked tariffs on China to 125 per cent.

On April 9, the day that Trump had named as the one on which his tariffs would come into effect across the world, including the European Union, the EU responded with its own trade countermeasures against Trump’s US.

Von der Leyen, in her statement reacting to Trump’s pause, said that clear, predictable conditions are essential for trade and supply chains to function.

Tariffs are taxes that only hurt businesses and consumers, she said.

“That’s why I’ve consistently advocated for a zero-for-zero tariff agreement between the European Union and the United States.”

The EU remains committed to constructive negotiations with the US, with the goal of achieving frictionless and mutually beneficial trade, Von der Leyen said.

She said that at the same time, Europe continues to focus on diversifying its trade partnerships, engaging with countries that account for 87 per cent of global trade and share its commitment to a free and open exchange of goods, services, and ideas.

“Finally, we are stepping up our work to lift barriers in our own single market. This crisis has made one thing clear: in times of uncertainty, the single market is our anchor of stability and resilience,” Von der Leyen said.

“My team and I will continue to work day and night to protect European consumers, workers and businesses. Together, Europeans will emerge stronger from this crisis,” she said.

(Photo: EC Audiovisual Service)

Please support The Sofia Globe’s independent journalism by becoming a subscriber to our page on Patreon:

Become a Patron!