US President Donald Trump puzzles market participants with his tariff policy. On May 25, he agreed to the EU leaders’ calls to postpone the 50% tariffs he imposed on EU imports for another month. Now, the European Union can breathe a little easier, at least until early July.
"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," Trump said in a statement on Truth.Social.
This announcement came just a few hours after EU policymaker Ursula von der Leyen described her conversation with Trump as “very nice.” The European Commission leader stressed that Europe is ready to move the negotiations “quickly and decisively.”
Last week, the US president threatened to escalate his trade war by imposing a 50% tariff on imports from the EU starting from June 1. It remained unclear whether this 50% tariff would be added on top of the previously imposed 20% tariffs or would replace them.
Trump’s threats toward the EU were driven by his belief that negotiations with eurozone leaders had stalled. However, Sunday’s comments are a vivid example of how the president often announces aggressive tariff measures only to retreat from them shortly after.
