1 week Ago By Owen Evans
The European Union said on Thursday that it will pause its countermeasures against U.S. steel and aluminum tariffs for 90 days.
“If negotiations are not satisfactory, our countermeasures will kick in. Preparatory work on further countermeasures continues. As I have said before, all options remain on the table,” she added.
“Tariffs are taxes that only hurt businesses and consumers,” she said. “That’s why I’ve consistently advocated for a zero-for-zero tariff agreement between the European Union and the United States.” She said that the European Union remains committed to “constructive negotiations with the United States, with the goal of achieving frictionless and mutually beneficial trade.
” Before Trump’s 90 day pause, the Unites States had imposed a 20 percent tariff on all EU goods. Following Trump’s announcement on April 9, however, the 27-nation bloc will now be subject to a 10 percent baseline tariff on most goods, except steel and aluminum products, which are still subject to higher tariffs of 25 percent. Trump said that he was introducing new standards requiring steel to be “melted and poured” and aluminum to be “smelted and cast” in North America to prevent countries such as China from circumventing trade restrictions.
“There is potential for us to buy more LNG from the US but of course it needs to be on conditions that are also in line with our [green] transition,” Jørgensen said. The EU is already a major buyer of U.S.
energy. Trump has previously said that he is determined to make the EU an even bigger purchaser of LNG. EU leaders are also prioritizing a renewables-first energy approach, along with comprehensive legislation aimed at making the bloc the first climate-neutral continent by 2050.
“We are all well aware that the high energy prices we are paying are not sustainable in the global competition in the future,“ Jørgensen said. ”We have spent more money buying fossil fuels from Russia since 2022 than we have given in aid to Ukraine.”.
