00:00The European Union has temporarily paused its counter-tariffs against the United States to further pursue talks with Donald Trump's administration on how to resolve what was shaping up to be an all-out trade war.
00:13According to the President of the EU Commission, Ursula von der Leyen, the suspension will remain in place for at least 90 days.
00:20The counter-tariffs, imposed in reaction to Trump's duties on steel and aluminium, were approved on Wednesday by member states, targeting almost 21 billion euros in American products.
00:31The first raft, worth 3.9 billion euros, was scheduled to go into effect on the 15th of April before the change.
00:38The EU bloc had initially been hit by a 20% rate under Trump's sweeping tariffs, shocking Brussels and other capitals.
00:46The EU Commission, which has exclusive competence to determine the commercial policy for the 27-member bloc, has been trying to figure out how to respond to Washington's trade tariffs.
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