President Donald Trump announced Sunday that he will postpone a planned 50% tariff on European Union imports until July 9, following what he described as a “very nice call” with European Commission President Ursula von der Leyen.
Speaking to reporters before boarding Air Force One in New Jersey, Trump said the EU requested more time to advance trade talks. “She said she wants to get down to serious negotiation,” he said. “July 9 would be the day, that was the date she requested. I agreed to do that.”
The decision marked another instance in which Trump walked back a threatened tariff after markets had reacted to earlier warnings. As recently as Friday, the president insisted he was “not looking for a deal” and that the increased rate would take effect June 1.
Shortly after the exchange with reporters, Trump confirmed on Truth Social that negotiations would begin “rapidly.”
Von der Leyen echoed the sentiment earlier Sunday on X, calling it a “good call” and affirming that Europe was prepared to move forward. “To reach a good deal, we would need the time until July 9,” she wrote.
On Monday, EU Commission spokesperson Paula Pinho said the conversation had injected new momentum into the stalled trade discussions. “From our side, we always said we were ready to make a deal,” she told reporters.
Markets in Asia responded with modest gains. Japan’s Nikkei rose 0.8%, South Korea’s KOSPI gained 0.9%, and China’s Shanghai Composite added 0.3%. Other indexes showed minimal movement, with Hong Kong’s Hang Seng slightly down at 0.3%.
The tariff threats stem from Trump’s frustrations over what he calls “non-monetary trade barriers” and persistent trade deficits. According to the US Commerce Department, the US recorded a $236 billion trade gap with the EU in 2024.
Trump also weighed in on domestic manufacturing, backing Treasury Secretary Scott Bessent’s recent view that the US does not need to revive its textile industry. “We’re not looking to make sneakers and t-shirts,” Trump said. “We want to make military equipment… We want to do the AI thing with the computers.”
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