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President Donald Trump mentioned he would lengthen the deadline for the European Union to face 50% tariffs till July 9 after a telephone name with European Fee President Ursula von der Leyen.
“We had a really good name and I agreed to maneuver it,” Trump advised reporters Sunday on his approach again to Washington.
Von der Leyen mentioned earlier Sunday in a submit on X that “Europe is able to advance talks swiftly and decisively,” however “a very good deal” will want “time till July 9.” That’s the date that Trump’s 90-day pause of his so-called reciprocal tariffs had been set to finish.
The EU had been slated for a 20% tariff beneath these reciprocal charges introduced in April.
However Trump on Friday threatened to impose the next, 50% tariff on the EU after complaining the bloc was slow-walking negotiations and unfairly focusing on US corporations with lawsuits and laws.
Learn Extra: Trump Threatens EU, Smartphones as Tariff Rhetoric Escalates
The EU final week shared a revived commerce proposal with the US in a bid to spice up talks, and the bloc’s commerce chief, Maros Sefcovic, held a name together with his US counterpart, Jamieson Greer, on Friday.
Trump’s newest tariff menace would hit $321 billion value of US-EU items commerce, decreasing US gross home product by near 0.6% and boosting costs by greater than 0.3%, based on Bloomberg Economics calculations.
This story was initially featured on Fortune.com