US President Donald Trump's decision to postpone the increase in import tariffs by 90 days was an important step towards stabilising the global economy. “I welcome President Trump's announcement to suspend reciprocal tariffs. This is an important step towards stabilising the global economy“. This opinion was expressed by the head of the European Commission (EC), Ursula von der Leyen.
She stressed that Brussels remains committed to "constructive negotiations with the US to achieve unhindered and mutually beneficial trade" At the same time, she noted that the EU is focusing on diversifying its trade policy and intends to step up work to remove barriers to the EU's internal market.
On 2 April, Trump announced the introduction of tariffs on products from 185 countries and territories. Russia is not on this list. The universal 10% tariff went into effect on April 5, the individual tariffs on April 9. In addition, the US administration introduced a 25% tariff on all imported cars from April 3. Trump also declared a state of emergency in the country due to the economic situation. Global stock and commodity markets responded to the tariffs with one of the biggest declines in modern history, which many investors compare to the beginning of the Great Depression in 1929.
On April 9, Trump announced that he would suspend tariff increases for 90 days for countries that have shown a willingness to negotiate. They will be subject to import tariffs of 10%. US Treasury Secretary Scott Besant emphasized that the suspension of tariffs also applies to Canada and Mexico. At the same time, the American leader raised tariffs on products from China to 125%.