The European Union's executive commission said Thursday it will put its retaliation measures against new U.S. tariffs on hold for 90 days to match President Donald Trump's pause on his sweeping new tariffs and leave room for a negotiated solution.
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00:00We want to negotiate, we want to talk, we appreciate that you have brought this pause
00:06on so-called reciprocal tariffs and we in turn are now pausing our proposed countermeasures
00:15in order that we have the maximum space to consult with our member states, consult with our industry
00:21and negotiate with the US. We're ready to make deals, let's talk.
00:28My understanding is that the American tariffs on cars remain in place, the American tariffs,
00:35the 10% across the board remain in place and everything related to the so-called reciprocal
00:42tariffs is suspended for 90 days. So in response, we are suspending our first wave of proposed
00:50countermeasures for which we received very resounding mandate from our member states yesterday and
00:55we will be taking this time to reflect, to analyse, to talk to our member states, to talk
01:01to our industry in order that we come forward with the best and most coherent strategy to
01:06protect the European Union consumers, industry and member states. Our approach hasn't changed,
01:12we're preparing for all outcomes, all our instruments are on the table, we want to talk to the Americans,
01:17we want to achieve deals that benefit both sides, we've offered them zero for zero on industrial
01:24products and goods, we believe we can reach all sorts of beneficial outcomes from both sides that would
01:30avoid the types of tariffs that we believe are harmful and counterproductive. So we're continuing all our
01:36preparations and we will continue to talk to our member states, talk to our industry and we remain ready to
01:43engage in a meaningful way with the U.S.