European Commission President Ursula von der Leyen on Thursday described US President Donald Trump's unexpected decision to pause hefty tariffs on dozens of countries as "an important step towards stabilising the global economy". "Clear, predictable conditions are essential for trade and supply chains to function," von der Leyen said in a post on X, reaffirming that tariffs are "taxes that only hurt businesses and consumers." The move marked a sharp reversal from Trump's earlier announcement of a sweeping 20 per cent tariff on US imports from the EU, part of a broader set of "reciprocal" levies targeting countries worldwide. While the pause was seen as a relief for global markets—triggering a rally in stocks—it did not extend to duties already in place on autos, steel and aluminium. The EU, which remains committed to constructive negotiations with Washington, will go ahead with its first set of countermeasures on US steel and aluminium tariffs starting April 15. Von der Leyen, however, did not reference these measures in her statement. "I've consistently advocated for a zero-for-zero tariff agreement between the European Union and the United States," she said, reiterating the bloc's call for frictionless and mutually beneficial trade. Von der Leyen also highlighted the EU's ongoing efforts to diversify trade ties, noting the bloc is engaging with countries representing 87 per cent of global trade that share its commitment to free and open exchange. Additionally, she emphasised the importance of the EU's internal market in the face of global uncertainty. "This crisis has made one thing clear: in times of uncertainty, the single market is our anchor of stability and resilience," she said. Attribution: Amwal Al Ghad English, Reuters Subediting: M. S. Salama
