President of the European Commission, Ursula von der Leyen, announced the suspension of previously imposed duties on imports from the USA for 90 days. The move was made for diplomatic purposes.
"We want to give the negotiations a chance",
Ursula von der Leyen said.
The EU also noted that work on tax restrictions is ongoing. If negotiations with Washington fail, Brussels will impose tariffs.
Let us remind you that US President Donald Trump suspended previously introduced tariffs for 90 days. For countries negotiating with the US, the base rate of 10% will remain, while Trump has imposed additional duties on Chinese imports, bringing the total tax rate to 125%.
