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'Deal will be made with all of them'
The Citizen
|April 11, 2025
TRADE TALKS: 75 NATIONS SO FAR SEEK TO NEGOTIATE
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The EU paused plans for retaliatory tariffs on US goods yesterday after President Donald Trump abruptly suspended higher US duties on the bloc and other countries, leaving China in the crosshairs of his trade war.
Trump's about-face on Wednesday triggered a massive market rebound but Wall Street's rally fizzled yesterday and the dollar slumped, as investors remain on edge over the outlook for the world economy.
The US president halted steep tariffs on scores of nations for 90 days. But he kept a global baseline tariff of 10% intact and punished Beijing for retaliating by slapping a 125% duty on its goods.
The European Union, which had faced a 20% tariff, welcomed Trump's U-turn, saying it was an "important step towards stabilizing the global economy".
The 27-nation bloc responded with its own olive branch, suspending for 90 days tariffs on €20 billion (about R436 billion) worth of US goods that had been greenlit in retaliation to duties on steel and aluminum.
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