Washington D.C. - Former President Donald Trump authorized a 90-day delay on higher tariffs for most countries, a move announced Wednesday. This temporary pause comes after Trump initially declared a 10% universal tariff on imported goods. The decision has prompted the European Union to suspend its planned retaliatory tariffs, signaling a potential de-escalation in trade tensions.
While the delay offers a brief respite, the 10% universal tariff remains in effect. Experts suggest that this tariff could still impact businesses and consumers. The future of the tariffs and the EU's response will likely depend on negotiations and further policy decisions made within the next three months. Economists are closely monitoring the situation to assess the long-term effects on global trade and economic stability.
Trump Delays Some Tariffs; EU Suspends Retaliation
Former President Trump has temporarily paused increased tariffs on most countries for 90 days. This decision follows his announcement last week of a 10% universal tariff. In response to Trump's action, the European Union has halted its planned retaliatory measures. The future of these tariffs remains uncertain after the 90-day period.
Source: Read the original article at ABC