President Donald Trump announced on Sunday that he is postponing the deadline for raising tariffs on imports from the European Union. This decision comes after a conversation with Ursula von der Leyen, the President of the European Commission, who requested more time to negotiate a favorable trade deal.
In a post on Truth Social, Trump revealed that he would delay the planned increase of tariffs from 10% to 50%, which was originally set for June 1. The new deadline will be July 9, 2025. Trump stated that he agreed to the extension after von der Leyen reached out to him. He expressed his willingness to help facilitate discussions, emphasizing the importance of the trade relationship between the U.S. and the EU.
Von der Leyen echoed this sentiment, describing her conversation with Trump as productive. In a post on X, she highlighted the significance of the trade relationship, stating that both sides need the additional time to reach a good deal.
This tariff increase was part of Trump’s broader strategy to address what he views as unfair trade practices by the European Union. He has previously criticized the EU for various trade barriers and a trade deficit that he believes is detrimental to the U.S. economy. Just before the Memorial Day weekend, Trump had announced his intention to implement the steep tariff hike, which he described as necessary to protect American interests.
Trump mentioned that there would be no tariffs on products manufactured in the United States, indicating a focus on supporting domestic production. He also noted that von der Leyen is eager to engage in serious negotiations, which could lead to a more favorable outcome for both parties.
In the context of ongoing trade discussions, the U.S. has recently made progress with China, agreeing to lower high tariffs on each other’s goods. The Trump administration has also been exploring trade deals with other countries, including the United Kingdom, as part of its broader trade agenda.
The extension to July 9 gives both the U.S. and the EU more time to work out their differences and potentially avoid a trade escalation that could impact both economies.