Trump intends to postpone the imposition of a 50% customs duty on the European Union until July.
U.S. Delays 50% EU Tariff Implementation to July 9 Amid Negotiation Overtures
WASHINGTON—President Donald Trump announced Sunday that the U.S. will postpone the implementation of a 50% tariff on goods imported from the European Union, initially scheduled for June 1, until July 9. The move comes after a telephone conversation with Ursula von der Leyen, the President of the European Commission.
According to Trump, during the call, von der Leyen expressed her intention to engage in "serious negotiations." Trump stated that he had repeatedly encouraged other parties to take this approach. He further indicated that von der Leyen had vowed to swiftly organize discussions to attempt a resolution.
The proposed tariffs, as previously announced by Trump on social media, were based on concerns over trade barriers and an unfavorable trade balance between the U.S. and the 27-nation EU bloc. In his Friday post, Trump reported that negotiations had stalled and accused the EU of being difficult to work with on trade matters.
In a subsequent post on the evening of July 3, Trump stated that the tariffs would now be delayed until July 9, 2025, while emphasizing that the extension was a privilege granted by him. On the other hand, von der Leyen stressed the close and consequential trade ties between the EU and the U.S., as well as Europe's readiness to expedite and decisively advance talks to reach a mutually beneficial agreement.
In other news, attention has been drawn to several prominent business stories, including efforts by Las Vegas casinos to attract younger generations, issues related to missing savings sent via paper check, the potential impact of U.S. chip controls on China, rent cap preparations in Washington State, and innovative models for grocery shopping that mimic farmers markets.
- The postponement of the 50% tariff on EU goods, initially planned for June 1, now extends to July 9, opening a window for negotiations in policy-and-legislation and politics, as both parties aim to reach a mutually beneficial agreement, a matter of general news.
- Meanwhile, in Seattle, efforts are underway in the business sector to attract younger generations, as local casinos explore new strategies, as part of the general news and trends shaping the city's economic landscape.
