Trump, european union and tariff
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The European Union has decided to hold off on imposing retaliatory tariffs on U.S. goods that were set to begin Monday.
The EU paused planned countermeasures against the US after Trump delayed a tariff hike. But a new 30% rate has the bloc considering retaliation.
Some investors and economists have also noted Trump's pattern of backing off his tariff threats. Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider,
The president posted letters to his EU and Mexican counterparts on his Truth Social account on Saturday morning.
Senior EU officials told the FT that they did not expect Trump to ultimately go through with his new threat of 30 per cent tariffs, which is being widely interpreted by Brussels as a bid by the US president to increase pressure on the bloc in the remaining time left for negotiations.
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German Finance Minister Lars Klingbeil said on Sunday the European Union must take "decisive" measures against the United States if tariff negotiations fail to cool an escalating global trade war.