๐บ๐ธ Trump Delays 50% EU Tariff Until July 9, 2025
President Donald Trump has agreed to postpone the implementation of a 50% tariff on European Union imports, originally set to take effect on June 1. The new deadline is now July 9, 2025, allowing more time for trade negotiations between the U.S. and the EU. The Daily Beast+3The Times of India+3AP News+3
The decision followed a phone call between President Trump and European Commission President Ursula von der Leyen, who requested additional time to reach a trade agreement. Trump expressed his willingness to extend the deadline, stating it was a "privilege" to do so. Both leaders emphasized the importance of swift negotiations to resolve trade tensions. Reuters+1AP News+1The Daily BeastAP News+1The Daily Beast+1
This development marks a shift from earlier tensions, where Trump had criticized the EU for being difficult in trade negotiations and suggested talks had stalled. The extension has been welcomed by both sides, with the EU expressing readiness to engage in constructive discussions. Reuters+2AP News+2The Daily Beast+2Reuters
The delay has also had a positive impact on financial markets, with the euro and U.S. dollar rising against safe-haven currencies. Analysts hope this move will pave the way for a more stable and predictable trade relationship between the U.S. and the EU. Reuters
While the extension provides an opportunity for negotiations, both parties have indicated that if talks do not yield satisfactory results, the tariffs may still be implemented. The coming weeks will be crucial in determining the future of U.S.-EU trade relations.
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