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The European Union has announced a 90-day delay in implementing its initial countermeasures against U.S. tariffs, signaling a potential thaw in global trade tensions. A senior Trump administration official stated Thursday that “serious” trade proposals from other countries are now emerging, suggesting the trade war initiated by President Donald Trump may be easing.
The EU’s decision followed Trump’s move to suspend planned tariffs for 90 days on countries that had not responded with retaliatory measures. This development lifted U.S. markets on Wednesday, with global stocks following the positive trend on Thursday.
“We acknowledge President Trump’s announcement,” said European Commission President Ursula von der Leyen in a social media post. “We are open to giving negotiations a chance.”
Meanwhile, tensions with China appear to be escalating. On Wednesday, Trump increased tariffs on Chinese imports to 125%, prompting China to activate its own 84% tariff on U.S. goods Thursday.
“The trade conflict is increasingly becoming a direct standoff between the U.S. and China,” analysts at Rabobank noted. “We may be witnessing simultaneous escalation and de-escalation, creating uncertainty and volatility across markets.”
