President Trump Delays 50% Tariff Until July

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President Trump announced he would delay a 50% tariff on the European Union until July 9th.

“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,” Trump said.

“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!” he added.

Per CNBC:

Trump imposed 20% tariffs on the EU as part of his sweeping “reciprocal tariffs,” before slashing the rate down to 10% for 90 days on April 9.

But Trump last week suggested a “straight 50% tariff” on the EU beginning on June 1, saying that the 27-nation bloc “has been very difficult to deal with.”

“Our discussions with them are going nowhere!” Trump wrote Friday on Truth Social.

He later said that he was not planning to strike a deal with the EU before June 1.

“I just said, it’s time that we play the game the way I know how to play the game,” he said during an executive order signing event at the White House.

CNN reports:

On Monday, an EU spokesperson said there was a new momentum behind trade talks.

“With this call, there is now also a new impetus for the negotiations… from our side, we always said we were ready to make a deal,” Paula Pinho, chief spokesperson for the European Commission, told reporters on Monday.

Following news of the delay, stock markets in Asia posted modest gains on Monday. Japan’s benchmark Nikkei 225 rose as much as 0.8% in early trading, while South Korea’s KOSPI gained 0.9%. China’s Shanghai Composite Index edged up 0.3%. Taiwan’s TAIEX and Australia’s S&P/ASX 200 traded relatively flat, while Hong Kong’s Hang Seng Index slipped 0.3%.

Trump has taken a particular issue with “non-monetary trade barriers,” as he has repeatedly called them, as well as countries or trading blocs that run trade deficits with the United States. Those occur when the US purchases more from another trading partner than that country purchases from the US.

Last year, the United States ran a $236 billion trade deficit with the EU, according to US Commerce Department data.

Trump also said Sunday that he “tended to agree” with recent comments from Treasury Secretary Scott Bessent on not needing to return textile manufacturing to the United States.

“We’re not looking to make sneakers and t-shirts … we want to make military equipment,” Trump said. “We want to make big things. We want to do the ‘AI thing’ with the computers.”



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