Von der Leyen, who welcomed Trump's decision to halt customs duties, reiterated the 'zero to zero' proposal.

The European Commission will review Trump's decision to temporarily halt comprehensive tariffs before deciding on its next steps.

The European Union (EU) breathed a sigh of relief after U.S. President Donald Trump, under intense market pressure, reversed course and suspended comprehensive tariffs that risked causing a global recession for 90 days. European Commission President Ursula von der Leyen stated on Tuesday morning, "I welcome President Trump's announcement to suspend mutual tariffs. This is an important step towards stabilizing the global economy. Open and predictable conditions are essential for trade and supply chains to function." Von der Leyen evaluated this decision to once again emphasize the proposal for a "zero to zero" tariff agreement on all industrial goods between the EU and the U.S. Earlier this week, Trump explicitly rejected this proposal by stating it was insufficient to meet demands. Instead, Trump said that the EU should increase its purchases of American energy to quickly balance goods trade. In 2023, the EU recorded a goods surplus of 156.6 billion euros and a services deficit of 108.6 billion euros with the U.S. European Commission President Leyen said, "The European Union remains committed to constructive negotiations with the U.S. with the aim of achieving frictionless and mutually beneficial trade." Polish Prime Minister Donald Tusk called on both sides of the Atlantic to "make the best of the next 90 days" and find a path to compromise. In a statement on social media, Tusk said, "Regardless of temporary turbulence, maintaining close transatlantic relations is a joint responsibility of Europeans and Americans." The Commission, which found Trump's so-called "mutual tariffs" to be "neither credible nor justified," initially exposed the bloc to a 20% rate. Following Trump's retreat, the EU will be subject to a base tariff rate of 10% on imports from America. Steel, aluminum, and cars will continue to be subject to a separate 25% rate. In her statement, Von der Leyen did not mention any other countermeasures, despite the EU still being below the 10% rate. On Wednesday, EU countries approved the first counter-tariff package against Trump's high tariffs on steel and aluminum. A European Commission spokesperson suggested that the carefully prepared retaliation plans would be suspended for now. The spokesperson said, "The European Commission will take the necessary time to assess this recent development in close consultation with our member states and our industry before deciding on next steps." The 10% rate also applies to the majority of countries. In contrast, China has been punished with a massive 125% tariff that could create shockwaves in global markets. The Commission has already formed a task force to monitor the possible rerouting of heavily subsidized Chinese goods from America to Europe. Von der Leyen also stated that the EU will continue to "diversify" its trade relations and will establish ties with countries that represent "87% of global trade and share our commitment to free and open exchange of goods, services, and ideas." In recent months, the Commission has signed free trade agreements with Switzerland, Mexico, and Mercosur (the South American Common Market) and plans to sign a new agreement with India. Von der Leyen expressed, "My team and I will continue to work day and night to protect European consumers, workers, and businesses. Europeans will emerge from this crisis stronger together."