A tariff storm was brewing — and then, just like that, the forecast changed. Donald Trump shocked everyone by pausing his planned tariffs for 90 days (for all countries except China), throwing global markets a lifeline and leaving the EU wondering what game he’s playing.

In this episode of EU Confidential, host Sarah Wheaton unpacks the fallout from Trump’s trade U-turn with Josh Lipsky, senior director at the Atlantic Council’s GeoEconomics Center, and Doug Busvine, POLITICO’s editor for agriculture and trade. They dig into whether this is a moment of de-escalation in Trump’s trade war — or just the eye of the storm — as well as how Brussels might respond, and what it all means for the future of globalization and free trade.

As always, the situation is fluid. All information and figures were accurate at the time of recording.

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