President Donald Trump announced a postponement of the proposed 50% tariff on European Union imports until July 9, following a phone call with European Commission President Ursula von der Leyen

Trump stated on Truth Social that von der Leyen requested additional time for serious trade negotiations, prompting him to delay the tariff implementation originally set for June 1.ers on American products. Previously, the U.S. had imposed tariffs of 25% on European steel, aluminum, and automobiles, along with a general 10% tariff on other goods

Von der Leyen described the conversation as “good” in a post on X, expressing the EU’s readiness for swift and constructive negotiations

Financial markets responded positively to the delay, with U.S. and European stock indices rising amid hopes of avoiding further escalation in the trade dispute.

The EU had prepared retaliatory measures worth up to €95 billion but emphasized its commitment to negotiated solutions.