US President Donald Trump announced this morning the postponement of a planned 50 per cent tariff on European Union (EU) goods, initially set to take effect on June 1, now rescheduled for July 9. This decision follows a conversation with Ursula von der Leyen, the president of the European Commission, who expressed her desire to engage in meaningful negotiations with Trump.
Speaking to reporters in Morristown, New Jersey, Trump remarked that he had urged the EU to engage constructively in trade discussions, highlighting the frustrating negotiations thus far, which he described as “going nowhere.” In a social media update, Trump previously stated that the EU had proven challenging to negotiate with.
Von der Leyen pledged to expedite discussions with the aim of reaching a mutually beneficial agreement. Trump framed the extension until July 9 as a privilege and a measure to facilitate these negotiations, a sentiment echoed by von der Leyen when she emphasised the significance of the transatlantic trade relationship. She stated that Europe is prepared to advance talks quickly and effectively, asserting that time until July 9 is necessary to finalise a satisfactory deal.
The dialogue appears to have alleviated some tensions between the US and the EU, at least temporarily.