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Europe welcomes Trump’s move to pause reciprocal tariffs

10 April 2025 11:57 (UTC +04:00)

European Commission President Ursula von der Leyen says she welcomes US President Donald Trump’s move to pause his “reciprocal” tariffs, APA reports citing CNN.

“It’s an important step towards stabilising the global economy,” she said Thursday. “Clear, predictable conditions are essential for trade and supply chains to function.”

“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.”

Last week, Trump had announced 20% tariffs on imports from the European Union as part of his plan to levy “reciprocal” tariffs on dozens of countries. He paused those tariffs yesterday in a surprise reversal, with the exception of duties imposed on China.

European stock markets rallied after the tariff pause. Europe’s benchmark STOXX 600 index was 5.5% higher at the start of trading Thursday. France’s CAC index was up 2.9% and Germany’s DAX jumped 8.3%, while London’s FTSE 100 index rose 6.1%.

Ursula von der Leyen European Commission Donald Trump US tariffs European Union trade relations global economy reciprocal tariffs tariffs pause stock market rally European stock markets trade agreements