U.S. President Trump has delayed a proposed 50% tariff on EU imports, giving both sides until July 9 to strike a trade deal.
President Trump has agreed to extend the deadline for implementing steep tariffs on European Union imports, postponing the 50% tariff until July 9 following a call with European Commission President Ursula von der Leyen. The initial threat, announced for June 1, had shaken global markets and heightened tensions between the U.S. and its European allies.
While Trump initially claimed disinterest in a deal, he reversed course after the EU requested more time for negotiations. Financial markets reacted positively to the delay, with the euro and U.S. dollar gaining ground. This latest development highlights the rocky trajectory of U.S.-EU trade talks amid broader concerns over Trump's unilateral trade approach and its global impact.
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