On Tuesday, U.S. President Donald Trump announced his support for the European Union, following his decision to postpone the implementation of a 50% tariff on EU goods until July 9.
In a statement on the Truth Social platform, Trump conveyed, “I have just been informed that the E.U. has called to quickly establish meeting dates.”
He described this development as a “positive event” and expressed hope that the EU would finally take action to enhance trade between Europe and the United States, echoing his previous demands made to China.
The announcement of potential increased tariffs stirred financial markets last Friday, reflecting concerns over rising tensions with a significant trade partner. However, Tuesday’s news brought renewed optimism as expectations grew for a potential resolution. Trump had previously voiced frustration, indicating that discussions with the EU were “going nowhere.”
Since April 2, the EU has faced a 20% tariff imposed as part of Trump’s “reciprocal” tariff strategy, which was subsequently adjusted to a 10% rate for nearly all trading partners for a span of 90 days. U.S. tariffs on automobiles, steel, and aluminum also continue to impact European exporters.
EU officials have consistently emphasized their desire to negotiate a favorable deal with the United States, while maintaining that they are unwilling to accept unfavorable terms. Earlier this month, the European Commission initiated a consultation on possible tariff countermeasures targeting U.S. imports valued at approximately €95 billion ($107.4 billion) should an agreement fail to materialize.
In a recent post on X, EU Commission President Ursula von der Leyen stated that the EU is “ready to advance talks swiftly and decisively.”
European Trade Commissioner Maros Sefcovic also reported having “good calls” with U.S. Commerce Secretary Howard Lutnick, emphasizing their commitment to maintaining ongoing communication, as noted in his post on X.
Finance Newso has reached out to the European Commission for further comments regarding the ongoing discussions.
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