In a new twist to the U.S.’s tariff saga, President Trump announced on April 9 a 90-day pause on the application of a 10% baseline rate on all agricultural trade partners. Worldwide agricultural associations and leaders have responded, with European Commission President Ursula von der Leyen releasing a statement saying that the bloc wants “to give negotiations a chance.”

“We took note of President Trump's announcement. (...) While finalizing the adoption of the EU countermeasures that saw strong support from our Member States, we will put them on hold for 90 days. If negotiations are not satisfactory, our countermeasures will kick in. Preparatory work on further countermeasures continues. As I have said, all options remain on the table,” the statement read.

The European Commission had previously proposed countermeasures backed by EU Member States and announced on Monday.

“The EU considers US tariffs unjustified and damaging, causing economic harm to both sides and the global economy. The EU has stated its clear preference to find negotiated outcomes with the US, which would be balanced and mutually beneficial,” the April 8 statement said.

This is a developing story...