US and EU Agree to Postpone Tariffs Until July as Trade Talks Continue
In a move that has brought temporary relief to global markets, US President Donald Trump has announced that he will delay the imposition of 50% tariffs on goods entering the US from the European Union until July 9. The decision comes after a phone call between Mr Trump and European Commission President Ursula von der Leyen, who expressed her desire to negotiate a trade deal between the two sides.
According to Sky News, Mr Trump had threatened to impose the tariffs from June 1, but has now agreed to postpone them until July 9, as reported by the same news provider. The US president told reporters on Sunday that he had spoken to Ms Von der Leyen and she “wants to get down to serious negotiations” and vowed to “rapidly get together and see if we can work something out”.
The European Union has been engaging “sensibly” with the US administration, Irish Premier Micheal Martin said on Monday, as quoted by Sky News. “I do believe that the European Union has been engaging sensibly on this,” he said, speaking at the Global Economic Summit in Killarney, Co Kerry. “I do believe the US side is anxious to get a deal on this that’s sustainable, too.”
The row over tariffs has been ongoing for some time, with Mr Trump imposing tariffs on many of America’s trade partners on his “liberation day” last month. However, he has since backed down in a spiralling tit-for-tat tariff face-off with China and struck a deal with the UK. Much of his most incendiary rhetoric on trade has been directed at Brussels, with Mr Trump even claiming that the EU was created to rip the US off.
Responding to his 50% tariff threat, EU trade chief Maros Sefcovic said earlier, as reported by Sky News: “EU-US trade is unmatched and must be guided by mutual respect, not threats. We stand ready to defend our interests.” The EU has responded “in a fairly modest and sensible way” to the US tariff threats, with Mr Martin adding that “all of the indications” are that the US wants a deal with the EU.
Mr Trump wrote on his Truth Social platform: “I agreed to the extension – July 9, 2025 – It was my privilege to do so.” The decision to postpone the tariffs has brought temporary relief to global markets, with many experts warning that a full-blown trade war between the US and EU could have severe consequences for the global economy.
As reported by Sky News, tariffs are not good for the economy, and it’s absolutely important that a realistic and reasonable deal is reached between Europe and the United States to help consumers and citizens across the world. The negotiations between the US and EU are ongoing, with both sides seemingly keen to avoid a full-blown trade war.
In conclusion, the decision to postpone tariffs until July 9 has brought temporary relief to global markets, but the ongoing trade talks between the US and EU will be crucial in determining the future of trade relations between the two sides. As Sky News continues to report, the situation is being closely watched by businesses and investors around the world.
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