Important step towards stabilizing global economy: EU chief welcomes Trump's tariff pause for 90 Days

In her X handle, the EU leader wrote: "I welcome President Trump’s announcement to pause reciprocal tariffs. It’s an important step towards stabilizing the global economy."

"Clear, predictable conditions are essential for trade and supply chains to function," she said.

She said Tariffs are taxes that only hurt businesses and consumers.

"That’s why I’ve consistently advocated for a zero-for-zero tariff agreement between the European Union and the United States," she said.

Ursula von der Leyen said the European Union remains committed to constructive negotiations with the United States, with the goal of achieving frictionless and mutually beneficial trade.

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

Donald Trump announces 90-day pause on tariffs with a twist

Amid a trade war with China, US President Donald Trump on Wednesday announced a 90-day hold on tariffs for all other countries except Beijing.

After the US raised tariffs on China to 104 percent, Beijing retaliated, announcing that it would impose a levy of 84 percent on US imports, up from 34 percent, marking a significant escalation of the tariff trade war between the countries. 

The US counter-strike was swift, with Trump announcing that he was raising tariffs on China even further- to 125 percent - effective immediately.

"At some point, hopefully in the near future, China will realise that the days of ripping off the USA, and other countries, is no longer sustainable or acceptable," he posted on Truth Social.

For other countries, though, the president announced a 90-day pause on reciprocal tariffs, while the base tariff of 10 percent will remain.