In a significant move, the European Union has decided to put its countermeasures to U.S. tariffs on hold for 90 days, coinciding with President Trump’s announcement to pause reciprocal tariffs. EU officials, including Ursula von der Leyen, expressed a desire to give negotiations a chance, highlighting this pause as an important step towards stabilizing the global economy. Meanwhile, the EU had prepared for retaliatory tariffs targeting approximately €22 billion worth of U.S. goods, focusing on items such as trucks and cigarettes. While the bloc is willing to halt these countermeasures, it has warned of a robust plan for retaliation should negotiations fail.