On Monday, the European stock market saw a crash following President Trump's recent reciprocal tariff announcments in the last week.
Many nations have offered an amicable response to avoid losses in trade.
In post on Truth Social, Trump stated on Monday that he would start negotiations with countries who have requested meetings with his administration "immediately"—with the exception of China, which has imposed retaliatory tariffs on U.S. imports.
European Commission President Ursula von der Leyen offered the United States a deal to remove tariffs on all industrial goods as part of the trade negotiations, a "zero for zero" deal.
However, Von der Leyen stated her intent to counter President Trump's tariffs should the negotiations fail.
The decision comes after "Trump announced a 20% across-the-board tariff on imports from the European Union, set to take effect on 9 April.
Steel, aluminum and cars are subject to a separate 25% rate. In total, over €380 billion in EU-made products will be affected.
Pharmaceuticals, copper, lumber, semiconductors and energy have been exempted.
"We stand ready to negotiate with the US. Indeed, we have offered zero-for-zero tariffs for industrial goods as we have successfully done with many other trading partners," the Commission president said on Monday afternoon."
Von der Leyen called Trump's sweeping tariffs a "major turning point for the United States" that would have "immense costs" for American consumers and businesses alike and deliver a "massive" blow to the global economy.
President Donald Trump also threatened China with new 50% tariffs unless Beijing lifts its retaliatory duties on U.S. exports by Tuesday.
The White House made a statement that any suggestion that Trump is considering a 90-day pause in tariffs is “fake news.”
U.S. markets opened sharply lower Monday for a third trading session, as Trump’s tariffs paralyze global trade and investment.
Additionally, "the Asian markets plunged overnight, with stock indexes in Singapore, Australia, Japan, South Korea and India all suffering losses." (NBC News)
Secretary of Commerce Howard Lutnick says the tariffs will not be postponed, and will "stay in place for days and weeks."
These updates were made at 12:11 PM CT.
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04.12.2025