In a significant shift in trade relations, President Trump has pushed back the deadline for enforcing proposed tariffs, citing the need for further negotiations with the E.U.
Trump Delays E.U. Tariffs, Promises Negotiation Progress
Trump Delays E.U. Tariffs, Promises Negotiation Progress
President announces extension amid trade negotiations with the European Union.
In a press conference held in New Jersey, President Trump announced that the imposition of 50% tariffs on European Union imports would be postponed to July 9, instead of the originally planned June 1. This decision was made following a productive conversation with Ursula von der Leyen, the European Commission President, who indicated that the E.U. required additional time to finalize a trade agreement. She referred to their discussion as a "good call" and assured that negotiations would proceed "swiftly and decisively." Trump reiterated this sentiment in a post on Truth Social, emphasizing the importance of the trade relationship between the U.S. and E.U.
Earlier in the week, Trump had threatened the imposition of tariffs due to what he described as stalled trade negotiations with the bloc, raising the specter of a trade war with one of the world's largest economies. The relationship between the U.S. and E.U. is historically deemed as one of the most crucial and interconnected, thus any potential tariffs could have far-reaching consequences for international trade dynamics.
Earlier in the week, Trump had threatened the imposition of tariffs due to what he described as stalled trade negotiations with the bloc, raising the specter of a trade war with one of the world's largest economies. The relationship between the U.S. and E.U. is historically deemed as one of the most crucial and interconnected, thus any potential tariffs could have far-reaching consequences for international trade dynamics.
