US President Donald Trump has postponed his plan to impose 50% tariffs on European Union imports, restoring the original July 9 deadline for trade negotiations. The decision followed a call with European Commission President Ursula von der Leyen, who requested more time to reach an agreement. Trump said the conversation was “very nice” and confirmed he agreed to delay the tariffs.
The move provided relief to markets, with the euro hitting its highest level since April 30, and European stocks rallying over 1.5% in futures trading. Trump’s earlier threat, made on Friday, had sparked global financial concerns and increased uncertainty in ongoing trade talks.
The EU is already facing 25% tariffs on steel, aluminium, and vehicles, with the risk of higher levies looming. Trump’s decision marks another temporary pause in a turbulent trade approach that has strained US-EU relations amid demands for reciprocal concessions.
