Trump Freezes 50% EU Tariffs, Announces July 9 Rollout Date

President Donald Trump announced Sunday a postponement of the 50% tariff on European Union imports until July 9, showcasing yet another instance of his fluctuating trade policies that have left markets in disarray. Following a “very nice call” with European Commission President Ursula von der Leyen, Trump stated, “She wanted to initiate serious negotiations,” leading to the agreed delay. While initially asserting he wasn’t pursuing a deal, Trump assured that discussions would commence promptly. Von der Leyen echoed this sentiment on X, emphasizing the importance of US-EU trade relations and the need for time until July 9 to finalize negotiations. In response, Asian stock markets gained slightly, signaling optimism. Trump expressed alignment with recent Treasury perspectives to focus on advanced manufacturing over textiles.