26 May, 2025: U.S. President Donald Trump has agreed to delay the implementation of a 50% tariff on European Union imports until July 9, following a phone conversation with European Commission President Ursula von der Leyen. Trump said the EU leader requested more time to begin serious negotiations, and he agreed to push the tariff deadline from June 1 to accommodate that. Although Trump had previously stated he wasn’t seeking a deal with the EU and had planned to impose the steep tariff, he reversed course after what he described as a “very nice call.” Talks are now set to begin swiftly, as both sides aim to work toward a resolution. The delay has already impacted global markets, with several Asian indices posting gains in response to the easing of trade tensions.
The U.S. ran a $236 billion trade deficit with the EU last year—something Trump has regularly cited as a concern. He also emphasized his focus on high-value manufacturing, downplaying the importance of bringing back textile production, and instead highlighting areas like military equipment and artificial intelligence technologies.
