Brussels - European Commission President Ursula von der Leyen welcomed on Thursday U.S. President Donald Trump's announcement of a 90-day suspension of reciprocal tariffs, describing it as "an important step toward global economic stability."

In a statement, von der Leyen reaffirmed the EU's commitment to "constructive negotiations with the United States aimed at achieving smooth and mutually beneficial trade," while stressing the need to provide "clear and predictable conditions for efficient trade and supply chain operations."

She explained that tariffs essentially function as taxes that harm both businesses and consumers, noting that the EU has "always supported a 'zero-for-zero' tariff agreement between the European Union and the United States."

Additionally, the Commission President emphasized Europe's continued focus on diversifying its trade partnerships by cooperating with countries representing 87% of global trade that "share our commitment to free and open exchange of goods, services, and ideas."

Von der Leyen pointed out that the EU is intensifying efforts to "remove barriers within our single market... This crisis has made one thing abundantly clear: in times of uncertainty, the single market serves as an anchor of stability and resilience."

She reaffirmed her commitment to working "day and night to protect European consumers, workers, and businesses," asserting that "Europeans will emerge from this crisis stronger than ever."

Background:
U.S. President Trump announced yesterday a 90-day suspension of new reciprocal tariffs, with China being the exception.