US President Donald Trump has delayed the imposition of the 50% tariff on the European Union to July 9. Trump spoke about the delay on his Truth Social account a few minutes earlier, after speaking to European Commission President Ursula von der Leyen.”I received a call today from Ursula von der Leyen, President of the European Commission, requesting an extension on the June 1st deadline on the 50% Tariff with respect to Trade and the European Union. I agreed to the extension — July 9, 2025 — It was my privilege to do so. The Commission President said that talks will begin rapidly. Thank you for your attention to this matter!” Trump wrote on his Truth Social account.
Trump had threatened the imposition of a 50% tariff on the European Union starting June 1, as he believed that the EU was “being difficult” and talks were “going nowhere.” The US and European markets had ended lower on Friday post this announcement.
European Commission President Ursula von der Leyen also wrote on her social media handle that she had a good call with President Trump and that the European Union and the US share the world’s most consequential and close trade relationship.The US imported goods worth $605.8 billion in 2024, according to data from the US Trade Representative, which was 5.1% higher than the 2023 figure, while exporting goods worth $370.2 billion, taking the total trade deficit to $235.6 billion, a 12.9% increase over 2023.
Trump had threatened the imposition of a 50% tariff on the European Union starting June 1, as he believed that the EU was “being difficult” and talks were “going nowhere.” The US and European markets had ended lower on Friday post this announcement.
European Commission President Ursula von der Leyen also wrote on her social media handle that she had a good call with President Trump and that the European Union and the US share the world’s most consequential and close trade relationship.The US imported goods worth $605.8 billion in 2024, according to data from the US Trade Representative, which was 5.1% higher than the 2023 figure, while exporting goods worth $370.2 billion, taking the total trade deficit to $235.6 billion, a 12.9% increase over 2023.
This is a developing story.
First Published: May 26, 2025 4:06 AM IS
