Trump delays 50% tariffs decision after EU’s push for more time
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President Donald Trump said he will give the European Union more time before imposing 50% tariffs, pushing the deadline to July 9. The announcement followed a phone call with European Commission President Ursula von der Leyen, who had asked for extra time to reach an agreement. BREAKING: President Trump says he received a call from the President of the EU Commission asking for the 50% tariff deadline to be move to July 9th, and it was his “privilege to do so.” pic.twitter.com/p7cP4ADVe2 — The Kobeissi Letter (@KobeissiLetter) May 25, 2025 “We had a very nice call, and I agreed to move it,” Trump told reporters Sunday while flying back to Washington. Earlier Sunday, von der Leyen posted on X that “Europe is ready to advance talks swiftly and decisively,” but stressed that “a good deal” will need “time until July 9.” That date marks the end of the 90-day negotiation period during which the EU had been spared from the 20 percent tariffs Trump first announced in April. The 50% tariffs are here to stay, nonetheless Last Friday, the president warned he would raise the tariffs to 50 percent if he did not see faster progress. He accused the bloc of dragging its feet on talks and of targeting U.S. firms with lawsuits and extra regulations. The higher tariff threat would affect about $321 billion in U.S.-EU goods trade. According to calculations by Bloomberg Economics, it could shave nearly 0.6 percent off U.S. gross domestic product and lift prices by more than 0.3 percent. In response to Trump’s warning, the EU last week put forward a fresh trade offer, and its trade chief, Maroš Šefčovič, spoke by phone on Friday with his U.S. counterpart, Jamieson Greer. That move was part of Brussels’ effort to show willingness to compromise ahead of…
Filed under: News - @ May 25, 2025 11:15 pm