The United States observes a holiday today, Monday, with Wall Street stock and bond markets closed for Memorial Day. They will reopen on Tuesday.
US President Donald Trump announced on Friday that trade negotiations with the European Union were "not making any progress," and that he was therefore "recommending the imposition of direct tariffs of 50% on the European Union, effective June 1, 2025."
Trump made it clear that his administration is not seeking a trade agreement with the European Union, stressing that these tariffs are final.
However, today, Trump announced that he was postponing his decision to impose tariffs of up to 50% on goods imported from the European Union until July 9, instead of the initial scheduled date of June 1.
