Trump Promises to Delay EU Trade Talks Until 9 July
In April of this year, Trump had set a 90-day period to hold trade talks between the EU as well as the US that would expire on the 9th of July
MORRISTOWN, New Jersey: US President Donald Trump on Sunday retracted his commitment to increase the tariffs on imports from the European Union by 50%. The deadline for the negotiations was agreed to extend until July 9 by the European Union’s chief negotiator, stating that “the bloc needs some time to come up with a good deal.”
Trump has threatened to escalate his trade war after complaining with trade talks not moving at a fast enough pace and that he would like to impose steep new import taxes that would begin on the 1st of June. The threat has shook markets across the globe.
He was tempted to do it at the time that European Commission President Ursula von der Leyen told him in telephone conversation that the EU demanded more time in order to reach an agreement. She also asked him to delay the tariffs until July. The original date he set when announcing the new charges back in April.
Trump told reporters on Sunday that he had endorsed the plan. He said Von der Leyen told him “we will quickly come together to see whether we can work something out.” That would therefore be a good opportunity for the President of the Commission to announce on social media that the EU is ready to expedite talks on trade.
Von der Leyen stated in a blog post posted on X on Sunday she had an “good” phone call with Trump.
In the beginning of April, Trump had set a 90-day timeframe for trade talks between the EU as well as the US that was scheduled to close on the 9th of July.
