💨 Abstract

The European Union has suspended its first countermeasures against U.S. tariffs for 90 days, as President Trump temporarily lowered duties on dozens of countries. Trump's decision came after intense market volatility caused by his tariff hikes. The EU is still assessing how to respond to U.S. car tariffs and broader levies. Trump also increased tariffs on Chinese imports and signed an executive order to reduce China's grip on the global shipping industry.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖