European Commission president floats idea of zero-for-zero tariff agreement with US, saying she hopes to achieve ‘frictionless trade’
Morning opening: ‘Nice to wrap it all up in one package’
US president Donald Trump stepped away from the brink of an all-out trade war last night, suspending his “reciprocal” tariffs for 90 days for everyone but China to create space for negotiations on better arrangements.
Trump appeared surprised when asked about the EU’s retaliatory tariffs adopted yesterday, only to be reassured by his officials that the expectation is that they will be effectively delayed until never.
Overnight, European Commission president Ursula von der Leyen welcomed Trump’s decision as she said it was “an important step towards stabilising the global economy.”
She also floated again the idea of a zero-for-zero tariff agreement with the US, saying she hoped to achieve “frictionless and mutually beneficial trade.”
But that by no means the end of this chaotic process.
