Europe pauses tariff retaliation after Trump's move

What they're saying: "We want to give negotiations a chance," European Commission President Ursula von der Leyen said on X.

• "While finalising the adoption of the EU countermeasures that saw strong support from our Member States, we will put them on hold for 90 days."

Catch up quick: It was just Wednesday that the EU advanced a plan to tariff a list of U.S. goods, in response to the steel and aluminum tariffs Trump imposed in mid-March.

• But hours later, he stepped back from the more serious reciprocal tariffs he'd levied last week, including a 20% tax on the EU's exports.

What to watch: U.S. officials say they're about to embark on months of negotiations with dozens of countries, in an effort to craft longer-lasting trade deals.

• Talks with the EU are likely to figure prominently.

Go deeper: Trump pauses most tariffs, but these are still in effect