Trump Delays 50% Tariffs On EU By One Month, Says ‘It’s My Privilege’

<p data-start=”73″ data-end=”223″><span class=”relative -mx-px my-[-0.2rem] rounded px-px py-[0.2rem] transition-colors duration-100 ease-in-out”>U.S. President Donald Trump has announced that he would postpone the imposition of 50% tariffs on European Union imports, extending the deadline for trade negotiations to July 9.</span> Earlier, US had annouced to impose tariffs on the European Union on June 1.</p>
<p data-start=”73″ data-end=”223″><span class=”relative -mx-px my-[-0.2rem] rounded px-px py-[0.2rem] transition-colors duration-100 ease-in-out”>The decision to postpone the deadline comes after a phone conversation with European Commission President Ursula von der Leyen, who requested additional time to finalise a trade agreement.</span></p>
<p data-start=”73″ data-end=”223″><strong data-start=”229″ data-end=”272″>Market Relief and Economic Implications</strong></p>
<p data-start=”274″ data-end=”470″><span class=”relative -mx-px my-[-0.2rem] rounded px-px py-[0.2rem] transition-colors duration-100 ease-in-out”>Trump’s initial threat to implement steep tariffs by June 1 had unsettled global markets, leading to volatility in various sectors.</span> <span class=”relative -mx-px my-[-0.2rem] rounded px-px py-[0.2rem] transition-colors duration-100 ease-in-out”>However, the extension has provided a reprieve, with oil prices climbing in early Asian trading on May 26.</span> <span class=”relative -mx-px my-[-0.2rem] rounded px-px py-[0.2rem] transition-colors duration-100 ease-in-out”>Brent crude futures rose by 0.6% to $65.15 per barrel, while U.S. West Texas Intermediate (WTI) crude increased by 0.6% to $61.87 per barrel.</span></p>
<p data-start=”472″ data-end=”630″><span class=”relative -mx-px my-[-0.2rem] rounded px-px py-[0.2rem] transition-colors duration-100 ease-in-out”>Financial markets also responded positively, with the euro and the U.S. dollar gaining against safe-haven currencies like the yen and Swiss franc, signaling renewed investor confidence.</span> <span class=”relative -mx-px my-[-0.2rem] rounded px-px py-[0.2rem] transition-colors duration-100 ease-in-out”>The euro rose to &yen;162.60 and climbed to $1.1382, its highest since April 30, while the dollar rebounded to &yen;143.085.</span></p>
<h3 data-start=”632″ data-end=”677″>EU’s Commitment to Swift Negotiations</h3>
<p data-start=”679″ data-end=”877″><span class=”relative -mx-px my-[-0.2rem] rounded px-px py-[0.2rem] transition-colors duration-100 ease-in-out”>During their conversation, von der Leyen emphasised the EU’s readiness to expedite trade talks.</span> <span class=”relative -mx-px my-[-0.2rem] rounded px-px py-[0.2rem] transition-colors duration-100 ease-in-out”>She stated, “we will rapidly get together to see if we can work something out.”</span> <span class=”relative -mx-px my-[-0.2rem] rounded px-px py-[0.2rem] transition-colors duration-100 ease-in-out”>In a social media post, she described the call as “good” and reiterated the EU’s willingness to move quickly in negotiations.</span></p>
<p data-start=”679″ data-end=”877″><span class=”relative -mx-px my-[-0.2rem] rounded px-px py-[0.2rem] transition-colors duration-100 ease-in-out”>Trump, expressing optimism about reaching a deal, acknowledged von der Leyen’s request for more time and agreed to honor the original 90-day negotiation period established in April.</span> <span class=”relative -mx-px my-[-0.2rem] rounded px-px py-[0.2rem] transition-colors duration-100 ease-in-out”>He remarked that von der Leyen told him, “we will rapidly get together to see if we can work something out.”</span></p>
<h3 data-start=”1039″ data-end=”1084″>Ongoing Challenges and Future Outlook</h3>
<p data-start=”1086″ data-end=”1284″><span class=”relative -mx-px my-[-0.2rem] rounded px-px py-[0.2rem] transition-colors duration-100 ease-in-out”>Despite the extension, challenges remain in the path to a comprehensive trade agreement.</span> <span class=”relative -mx-px my-[-0.2rem] rounded px-px py-[0.2rem] transition-colors duration-100 ease-in-out”>Trump has expressed frustration over issues such as EU value-added taxes, regulatory practices, and the lack of alignment on trade strategies regarding China.</span> <span class=”relative -mx-px my-[-0.2rem] rounded px-px py-[0.2rem] transition-colors duration-100 ease-in-out”>The EU has shown willingness to collaborate on addressing Chinese subsidies but resists certain U.S. demands, including maintaining the current 10% baseline tariff.</span></p>
<p data-start=”1286″ data-end=”1444″><span class=”relative -mx-px my-[-0.2rem] rounded px-px py-[0.2rem] transition-colors duration-100 ease-in-out”>Both sides have prepared for potential retaliatory measures, with the EU readying tariff packages on various U.S. goods.</span> <span class=”relative -mx-px my-[-0.2rem] rounded px-px py-[0.2rem] transition-colors duration-100 ease-in-out”>The extension provides a window of just over a month for both parties to reach a mutually acceptable trade agreement, aiming to avoid a significant escalation in trade tensions.</span></p>
<p data-start=”1446″ data-end=”1524″><span class=”relative -mx-px my-[-0.2rem] rounded px-px py-[0.2rem] transition-colors duration-100 ease-in-out”>As negotiations continue, the global community watches closely, hopeful that the extended deadline will lead to a resolution that benefits both the U.S. and the EU, while maintaining stability in international markets.</span></p>