CNN
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President Donald Trump mentioned Sunday that he has agreed to delay a 50% tariff on European Union imports till July 9, the most recent occasion of Trump declaring an impending tariff and throwing markets into confusion solely to later stroll again the threatened levies.
Trump mentioned he and European Fee President Ursula von der Leyen had a “very good name” that led to the delay.
“(Von der Leyen) mentioned she desires to get right down to severe negotiation,” Trump advised reporters at Morristown Municipal Airport in New Jersey. “July 9 could be the day, that was the date she requested. May we transfer it from June 1 to July 9? I agreed to try this.”
“She mentioned we are going to quickly get collectively and see if we are able to work one thing out,” he added.
As not too long ago as Friday, Trump mentioned he was “not searching for a deal” with the EU, and that their tariff fee was set at 50% and would go into impact on June 1. That fee would have come after he had imposed a 20% reciprocal tariff on the EU in April — which itself was additionally delayed, as had been different so-called reciprocal tariffs.
Minutes after talking with reporters, Trump posted on Reality Social that “talks will start quickly.”
Earlier within the day, von der Leyen had posted on X that there was a “good name” with Trump.
“The EU and US share the world’s most consequential and shut commerce relationship,” von der Leyen posted. “Europe is able to advance talks swiftly and decisively. To succeed in a very good deal, we would wish the time till July 9.”
Trump has taken a specific concern with “non-monetary commerce obstacles,” as he has repeatedly referred to as them, in addition to international locations or buying and selling blocs that run commerce deficits with the US. These happen when the US purchases extra from one other buying and selling companion than that nation purchases from the US.
Final yr, the US ran a $236 billion commerce deficit with the EU, in keeping with US Commerce Division knowledge.
Trump additionally mentioned Sunday that he “tended to agree” with latest feedback from Treasury Secretary Scott Bessent on not needing to return textile manufacturing to the US.
“We’re not trying to make sneakers and t-shirts … we need to make navy tools,” Trump mentioned. “We need to make large issues. We need to do the ‘AI factor’ with the computer systems.”
CNN’s Elisabeth Buchwald contributed to this report.
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