EU lands 25% counter tariff punch on US, Trump pauses broad import levy hike – China excepted

World War Fee The EU voted Wednesday to introduce 25 percent import tariffs on American goods, with the first duties being collected from European consumers on April 15. Bear in mind this action is a response to US President Donald Trump's earlier steel tariffs, and not the April 2 "tariff liberation day" duty hike.

And demonstrating how fast moving this political situation continues to be, fueled by a stock market meltdown, in the past few minutes President Trump paused the broad US import tariff increases he promised to bring in this week. Those retaliatory rises will be held off for at least some countries for 90 days, and he vowed to lower the increase to 10 percent for those nations. That may well put Europe on 10 percent, rather than the promised 20 percent, in line with the UK.

China is the exception, and faces a tariff increase to ...