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Investing.com - The European Union will put upcoming countermeasures to U.S. President Donald Trump's tariffs for 90 days to give talks with the White House "a chance," European Commission President Ursula von der Leyen said on Thursday.
In a statement, von der Leyen said she "took note" of Trump's decision on Wednesday to pause his punishing and sweeping "reciprocal" tariffs on most countries.
But she warned that, if negotiations with Washington "are not satisfactory," the bloc's retaliatory levies will come into effect.
"Preparatory work on further countermeasures continues," von der Leyen said. "As I have said before, all options remain on the table."
Earlier on Thursday, von der Leyen said she "welcomed" Trump's dramatic reversal of his sweeping "reciprocal" tariffs, arguing that it is an "important step towards stabilizing the global economy."
She added that "clear, predictable conditions are essential" for trade and supply chains to function, arguing that levies "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," von der Leyen said.
The EU remains committed to "constructive negotiations" with the U.S., with the goal of achieving "frictionless and mutually beneficial trade," she noted.
With markets around the world roiling, Trump abruptly revealed a reversal of most of his steep tariffs on a host of countries on Wednesday, saying he would pause them for 90 days. However, Trump said in a social media post that these nations would still face a "substantially lowered Reciprocal Tariff" of 10%.
Trump previously rolled out tariffs of 20% on the EU as part of these duties on countries around the world. The EU continues to face 25% import levies on steel, aluminum and cars.
EU member states voted on Wednesday in favor of a proposal from the bloc's executive arm -- which is helmed by von der Leyen -- to introduce new measures responding to the U.S. tariffs. The first batch of the EU duties were due to come into force on April 15.