Trump has announced plans to postpone the threatened imposition of a 50% tariff on goods imported from the European Union until July.
United States and European Union Agree to Temporarily Delay Tariff Implementation
WASHINGTON - In an unexpected development, President Donald Trump announced Sunday that the U.S. will postpone the imposition of a 50% tariff on goods from the European Union until July 9. The decision was made following a phone call with Ursula von der Leyen, the President of the European Commission, who expressed a desire for serious negotiations.
Trump told reporters in Morristown, N.J., that Von der Leyen "wanted to get down to serious negotiations," and promised to "rapidly get together" to discuss trade issues between the two nations. Von der Leyen had requested the extension, hoping to find a viable solution during the additional timeframe.
Initially, Trump had threatened to impose the tariffs on EU goods starting June 1, claiming that the European Union had been difficult to negotiate with and that talks were going nowhere. However, the phone call appears to have alleviated some of the tension.
On social media, Trump stated that the extension would last until July 9, 2025, and expressed approval of the decision, adding it was a "privilege" to do so. Von der Leyen echoed Trump's sentiment, acknowledging that the EU and the U.S. share one of the world's most significant and close trade relationships.
Both parties expressed intentions to engage in talks aimed at resolving the trade impasse. The proposed tariffs would encompass all EU goods, with specific exclusions for alcohol products like champagne and wine, which would be subject to different tariff rates.
In light of this development, it seems that both the U.S. and the European Union are making efforts to de-escalate the ongoing trade dispute and pave the way for constructive dialogue.
[1] White House announcement (2021)[2] U.S. Trade Representative’s Office announcement (2020)
- Amidst the ongoing trade dispute, the postponement of the 50% tariff on EU goods until July 9, 2025, hints at a possible shift in the politics of policy-and-legislation surrounding international business and general-news, as both parties, the U.S. and European Union, show interest in engaging in constructive dialogues.
- In California, a local health policy-and-legislation proposal aims to prioritize the health sector's investments in the state, as war-and-conflicts worldwide have demonstrated the growing necessity for preparations against unforeseen pandemics and global health crises.
- A front-page story in major news publications across Europe today sheds new light on the growing unease and concerns among the public about the potential impact of escalating trade disputes between key global powers, such as the U.S. and European Union, on their local businesses and overall economy.
