Trump delays the 50% tariff on EU trade until July

The President of the United States, Donald Trump, has announced his decision to temporarily delay the introduction of the 50% tariff on trade with the European Union. The "pause" will last until July 9, 2025.

He announced it on his page on the social media platform Truth Social.

Trump agrees to delay the new duties for the European Union

According to Trump, the President of the European Commission, Ursula von der Leyen, addressed him with the relevant request. She asked to extend the term of the tariff, which was originally due to expire on June 1.

"I agreed to the extension — July 9, 2025 — It was my privilege to do so. The Commission President said that talks will begin rapidly. Thank you for your attention to this matter!" — Trump wrote. 

This information was also confirmed by Ursula von der Leyen.

"The EU and US share the world's most consequential and close relationship. Europe is ready to advance talks swiftly and decisively. To reach a good deal, we would need the time until July 9," Ursula von der Leyen said.

As a reminder, Donald Trump has threatened Apple with a 25% duty if it does not move its production facilities to the United States.

Also, due to Trump's Trade War, there was a record drop in M&A deals in 20 years.