Trump rows back tariff threat to agree EU trade-talk extension

Two days after promising to impose severe tariffs, US President Donald Trump has sincere opposition to starting a trade war with the European Union.

Following a call from European Commission President Ursula von der Leyen, Trump announced on Sunday that he had agreed to extend trade negotiations with the EU to July 9. Trump announced on Friday that a 50% tariff on imports from the bloc would be imposed on June 1 as part of that agreement, and the US will also be prevented from doing so.

The announcement is the most recent change to US trade policy in a long line of events, and it will only add to the uncertainty that Trump’s erratic and unpredictable policy is putting on the world economy.

Trump claimed that Von der Leyen wants to start serious negotiations. “We had a very nice call,”

He told reporters, “She said we will quickly get together and see if we can work things out.”

The European Commission’s head said Trump had gotten a “good call” from her and that the EU was prepared to act quickly.

Backtracked

Trump gave the EU a 90-day window to begin trade negotiations in April, which were scheduled to end on July 9.

He had backtracked on Friday, saying he was completely uninterested in the transatlantic trade dispute.

The president remarked, “I’m not looking for a deal.” The agreement is set at 50%, according to the company.

He agreed with von der Leyen’s claim that the bloc is ready to negotiate but needs more time by Sunday, though.

She continued on X, stating that “Europe is ready to move forward with discussions quickly and decisively.” We would need the period until July 9 to reach a good deal, they say.

Maros Sefcovic, the top trade negotiator in the bloc, urged the US to show “mutual respect, not threats” on Friday.

With his April announcement threatening massive tariffs on several nations, Trump threw a wrench into the world’s financial markets.

The US president has, however, softened his stance in favor of negotiations in the wake of volatile markets, threats of retaliation, and global turmoil.