US President Donald Trump has agreed to postpone a 50 per cent tariff on imports from the European Union until July 9, following what he described as a “very nice call” with European Commission President Ursula von der Leyen.
Speaking to reporters at Morristown Municipal Airport in New Jersey on Sunday, Trump said the delay came at von der Leyen’s request, adding that both sides intended to resume negotiations promptly. “She said she wants to get down to serious negotiation,” Trump said. “July 9 would be the day, that was the date she requested. Could we move it from June 1 to July 9? I agreed to do that.”
The move marks yet another instance in which Trump has announced steep tariffs only to later scale them back, a pattern that has periodically unsettled global markets and trading partners. As recently as Friday, Trump had insisted he was “not looking for a deal” with the EU and that the 50pc tariff would be implemented on June 1.
However, within minutes of Sunday’s remarks, Trump reiterated his position in a post on his social media platform, Truth Social, stating that “talks will begin rapidly.”
Von der Leyen, in a post earlier on X (formerly Twitter), described the phone conversation as “good,” noting the shared importance of the transatlantic trade 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 latest development appears to provide temporary relief for European exporters, though uncertainty remains about the long-term direction of US-EU trade ties. Trump has frequently criticised what he terms “non-monetary trade barriers” and has expressed frustration with countries or blocs that maintain trade surpluses with the United States.
According to data from the US Commerce Department, the US recorded a $236 billion trade deficit with the EU in 2024. While Trump has sought to rebalance trade relationships through tariffs, his approach has drawn criticism from some business leaders and economists, who argue that it introduces unpredictability into the global economy.
Stock markets in Asia responded modestly to news of the delay. Japan’s benchmark Nikkei 225 rose 0.8pc in early trading on Monday, while South Korea’s KOSPI gained 0.9pc. China’s Shanghai Composite Index edged up 0.3pc. Markets in Taiwan and Australia traded flat, whereas Hong Kong’s Hang Seng Index slipped 0.3pc.
Separately, Trump also weighed in on recent remarks by Treasury Secretary Scott Bessent, who suggested that the US should not prioritise bringing back textile manufacturing. Trump said he “tended to agree” with Bessent’s stance.
“We’re not looking to make sneakers and t-shirts,” Trump said. “We want to make military equipment. We want to make big things. We want to do the ‘AI thing’ with the computers.”
