LONDON: Following the 90-day suspension of augmented tariffs by President Donald Trump on 9th April, EU (that faced a 20% tariff) too has paused plans for retaliatory levies on commodities from USA on 10th April, holding that it was an important step towards stabilising the global economy.
European Commission President Ursula von der Leyen, while informing that the 27-nation bloc too had suspended tariff on twenty billion Euros worth of American commodities for ninety days, said that all the options remained on the table: “We want to give negotiations a chance…if negotiations are not satisfactory, our countermeasures will kick in.”
Ursula von der Leyen, addressing the spectre of Trump’s Tariffs (that he had unleashed on Liberation Day), stated during a discourse here on 1st April, that Europe had a strong plan to retaliate. Pointing out that Europe had not started the confrontation she held: “We do not necessarily want to retaliate but, if it is necessary, we have a strong plan to retaliate and we will use it.”
It is pertinent to mention here that the global baseline tariff of 10% imposed earlier by Trump administration has not been waived off. Meanwhile, encouraged by the Trumpian U-Turn, bulls were seen roaming all over the Wall Street on 10th April. Chinese are still supposed to pay 145% duties on the export of its products to the United States, that will be paying 125% taxes to get their commodities go through the Chinese customs and to the consumers.
Newspakistan.tv
