President Trump announced Sunday that a 50% tariff on European Union goods will be delayed from June 1 to July 9, following a call with European Commission President Ursula von der Leyen. Trump said von der Leyen expressed readiness for “serious negotiations,” prompting the extension.
Last Friday, Trump had threatened the steep tariffs, accusing the EU of being “very difficult to deal with” and said trade talks were “going nowhere.” The announcement triggered market instability, with global indexes falling in response to the tariff threat and related pressure on Apple’s foreign-manufactured products.
Trump confirmed the delay while speaking to reporters in Morristown, New Jersey, and later posted on Truth Social: “It was my privilege to do so.”
The US trade deficit in goods with the European Union was $236 billion in 2024.
However, when taking into account services, where American firms are dominant, the European Commission calculates that the US trade deficit stood at 50 billion euros (57 billion dollars).
Von der Leyen welcomed the move, stating, “Europe is ready to advance talks swiftly and decisively,” and added that both sides needed the time to “reach a good deal.”
The delay eases transatlantic tensions — at least temporarily — and gives negotiators six more weeks to find common ground.
Source(s)
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CBS News – MBFC Rating
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