Trade Truce: EU Praises Trump’s Tariff Reversal

European Commission President Ursula von der Leyen praised President Donald Trump's decision to pause tariffs on multiple countries, marking progress towards economic stability. Though reciprocal tariffs were initially imposed, the temporary relief boosts global confidence. The EU will continue negotiations with the US and diversify trade partnerships.

In a significant diplomatic move, European Commission President Ursula von der Leyen offered praise for US President Donald Trump's decision to pause hefty tariffs on numerous countries. The step is seen as pivotal in stabilizing the global economy and securing smoother transatlantic relations.

Trump had initially imposed a broad 20% tariff on US imports from the EU, among other nations, sparking trade tensions. However, in an unexpected turn, he announced a temporary reduction of these duties while intensifying measures against China, a move that resulted in a positive shift in global stock markets.

While the EU prepares countermeasures to US tariffs on steel and aluminum, von der Leyen emphasizes Europe's strategy to diversify trade partnerships and remove internal market barriers, asserting the single market as a pillar of resilience in uncertain times.

(With inputs from agencies.)