MORRISTOWN, New Jersey, Might 25 (Reuters) – U.S. President Donald Trump on Sunday backed off his menace to hurry up 50% tariffs on imports from the European Union, agreeing to increase his deadline for commerce talks till July 9 after the top of the EU govt physique mentioned the bloc wanted extra time to “attain a very good deal.”
Trump threatened on Friday to accentuate his commerce warfare after expressing frustrations that commerce talks weren’t shifting rapidly sufficient, saying he needed steep new import taxes to start out on June 1. The menace roiled world markets.
Trump relented after European Fee President Ursula von der Leyen instructed him throughout a telephone name that the EU wanted extra time to return to an settlement and requested him to delay the tariffs till July, the deadline he had initially set when he introduced new tariffs in April.
Trump instructed reporters on Sunday that he had granted the request. He mentioned that von der Leyen instructed him “we are going to quickly get collectively to see if we will work one thing out.” Von der Leyen mentioned in a social media publish that the EU was prepared to maneuver rapidly in commerce talks.
Von der Leyen mentioned in a publish on X on Sunday that she had a “good” telephone name with Trump.
In early April, Trump had set a 90-day window for commerce talks for the EU and the U.S. which was to finish on July 9.
(Reporting by Jan Strupczewski and Jeff Mason; Enhancing by Leslie Adler and Diane Craft)
