The United States has postponed the imposition of a 50% tariff on European Union goods, with the new implementation date set for July 9. The move follows a conversation between President Donald Trump and European Commission President Ursula von der Leyen, aimed at reviving stalled trade negotiations.
That agreement was reached after a phone call on Sunday, during which von der Leyen expressed a willingness to engage more seriously in talks with Washington.
“She wants to get down to serious negotiations,” Mr. Trump said, recounting the conversation.
Speaking to reporters in Morristown, New Jersey, before departing for Washington, the former president added:
“I told anybody that, they have to do that,” Mr. Trump said. He noted that von der Leyen had committed to “rapidly get together and see if we can work something out.”
Just two days earlier, Mr. Trump had taken to social media to warn of the 50% tariff, citing frustrations with the EU’s stance on trade.
The 27-nation bloc had been “very difficult to deal with” and talks were “going nowhere,” he wrote on Friday.
Markets reacted swiftly to the announcement and the additional threat of tariffs on Apple products, with stock prices taking a sharp downturn.
“Just when markets believed the worst of the tariff battle had been overcome, President Trump threatened a 50% tariff against the EU this week, starting on 1 June, and a possible 25% tariff on iPhones produced abroad. This could all be a negotiating tactic, but the uncertainty caused by this back-and-forth is not good for global growth or markets,” said Klaus Baader, an analyst at SG Securities.
However, tensions seemed to ease following Sunday’s phone call. President Trump confirmed the delay on his Truth Social platform:
“I agreed to the extension — July 9, 2025 — It was my privilege to do so.”
Von der Leyen also struck a conciliatory tone in her remarks, emphasizing the importance of the transatlantic relationship.
“Europe is ready to advance talks swiftly and decisively,” she said. “To reach a good deal, we would need the time until July 9.”
“The EU and the U.S. share the world’s most consequential and close trade relationship,” she added.
