Trump’s Tariffs Hit Bulgarian Garment Industry Hard
Bulgarian garment companies are struggling to find new markets due to the recent increase in tariffs on industrial goods under Donald Trump’s administration
European Commission President Ursula von der Leyen announced on Thursday that the European Union will pause its planned countermeasures against U.S. tariffs for a 90-day period in order to provide space for diplomatic negotiations. In a statement shared on X (formerly Twitter), she emphasized that while the EU had been finalizing the adoption of retaliatory measures with broad support from member states, the implementation would be put on hold temporarily.
“We took note of the announcement by President Trump. We want to give negotiations a chance. 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,” von der Leyen stated. She added that if the discussions with the United States do not yield satisfactory results, the EU stands ready to proceed with its counteractions. “Preparatory work on further countermeasures continues. As I have said before, all options remain on the table,” she warned.
Von der Leyen had earlier expressed support for U.S. President Donald Trump’s decision to suspend reciprocal tariffs for dozens of countries, calling it an important move toward stabilizing global economic conditions amid rising trade tensions. “I welcome President Trump's announcement to pause reciprocal tariffs. It's an important step towards stabilising the global economy,” she wrote. She reiterated her longstanding support for a zero-for-zero tariff agreement between the U.S. and EU, emphasizing that tariffs ultimately harm businesses and consumers by disrupting trade and supply chains.
President Trump recently announced that the United States would enforce a 90-day pause on reciprocal tariffs for over 75 countries that are currently in trade talks with Washington. These countries, including India, have reportedly chosen not to retaliate against American trade policies and have instead sought engagement through U.S. government agencies such as the Departments of Commerce, Treasury, and the U.S. Trade Representative.
Trump’s announcement came alongside a sharp escalation in the ongoing trade conflict with China. In a post on Truth Social, he declared an immediate increase in tariffs on Chinese goods to 125 percent, citing China’s disregard for global market norms. In contrast, he authorized a reduced 10 percent reciprocal tariff during the 90-day suspension for other countries, also effective immediately. This move follows Beijing's decision to impose an 84 percent tariff on American imports, marking a significant deepening of trade hostilities between the two economic powers.
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