Trump Delays EU Tariff Hike Post Productive Call with von der Leyen
U.S. President Donald Trump postponed his threat to impose 50% tariffs on EU imports, extending trade negotiations until July 9. This decision followed a call with European Commission President Ursula von der Leyen, who requested more time to reach a favorable trade agreement.
President Trump has decided to defer increasing tariffs on European Union imports by 50%, extending the deadline for negotiations to July 9. This decision came after a conversation with European Commission President Ursula von der Leyen.
On Friday, Trump had expressed frustration over the slow pace of trade talks, leading to a threat of substantial import taxes starting June 1. Markets reacted negatively to the news. However, after the call with von der Leyen, who assured him that the EU needed more time to finalize a lucrative deal, Trump agreed to the extension.
Trump confirmed on Sunday that he would accommodate the EU's request for more time. Both leaders expressed a willingness to expedite negotiations. Von der Leyen shared on social media that she had a "good" discussion with Trump regarding trade matters.
(With inputs from agencies.)
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