FX.co ★ Trump Extends EU Tariff Deadline to July 9

President Donald Trump announced on Sunday that the deadline for instituting a proposed 50% tariff on the European Union has been extended from June 1 to July 9. Trump, in a post on Truth Social, shared that he had received a call from Ursula von der Leyen, who requested the extension and assured him that discussions would commence promptly. Von der Leyen characterized the conversation as “positive” and emphasized Europe's readiness to advance negotiations swiftly and decisively. This extension was announced just two days after Trump reiterated his tariff threats, criticizing the European Union for being “difficult to deal with” and expressing dissatisfaction that discussions were stalling. The proposed tariffs are anticipated to impact around $606 billion in EU exports to the U.S. in 2024. The United States continues to be the EU’s largest trading partner, representing 21% of its exports.