President Donald Trump announced on Sunday that he agreed to extend the deadline for a proposed 50% tariff on the European Union until July 9, 2025. This decision followed a call from Ursula von der Leyen, President of the European Commission, who requested the extension to allow more time for negotiations. Trump shared this information on Truth Social, expressing his willingness to grant the extension.
Von der Leyen described their conversation as positive and emphasized the importance of the EU-U.S. trade relationship, which she referred to as the “world’s most consequential and close trade relationship.” She indicated that Europe is prepared to engage in discussions to reach a mutually beneficial agreement swiftly.
The context of the tariff discussions stems from Trump’s earlier implementation of a 20% tariff on the EU, later reduced to 10% for a period of 90 days. More recently, Trump proposed a significant increase to a straight 50% tariff starting June 1, citing frustrations with the EU’s negotiation approach and declaring that talks were stagnating. He made it clear that he did not intend to finalize a deal before the original deadline and suggested a more aggressive strategy in handling trade with the EU.
Overall, the extension reflects ongoing tensions and complexities in U.S.-EU trade relations, with both sides acknowledging the need for further negotiations to arrive at a satisfactory resolution.
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