U.S. President Donald Trump on Sunday backed off his threat to speed up 50% tariffs on imports from the European Union, agreeing to extend his deadline for trade talks until July 9 after the head of the EU executive body said the bloc needed more time to "reach a good deal."
Trump threatened on Friday to intensify his trade war after expressing frustrations that trade talks were not moving quickly enough, saying he wanted steep new import taxes to start on June 1. The threat roiled global markets.
Trump relented after European Commission President Ursula von der Leyen told him during a phone call that the EU needed more time to come to an agreement and asked him to delay the tariffs until July, the deadline he had originally set when he announced new tariffs in April.
Trump told reporters on Sunday that he had granted the request. He said that von der Leyen told him "we will rapidly get together to see if we can work something out." Von der Leyen said in a social media post that the EU was ready to move quickly in trade talks.
Von der Leyen said in a post on X on Sunday that she had a "good" phone call with Trump.
In early April, Trump had set a 90-day window for trade talks for the EU and the U.S. which was to end on July 9.
Source: Investing.com
The economic activity in the United States' (US) manufacturing sector continued to contract in October, with the Institute for Supply Management's (ISM) Manufacturing Purchasing Managers' Index (PMI) ...
Many people in China cheered the meeting Thursday between President Xi Jinping and U.S. President Donald Trump, after months of escalating bilateral tensions. Every time the two leaders meet, it help...
The European Central Bank (ECB) announced on Thursday (October 30th) that it kept its key interest rates unchanged after its October policy meeting, as expected. This decision leaves the main refinanc...
Business activity in the United States' (US) private sector expanded at a healthy pace in October, with the S&P Global Composite Purchasing Managers' Index (PMI) improving to 54.8 in the flash est...
The annual inflation rate in the US rose to 3% in September 2025, the highest since January, from 2.9% in August and below forecasts of 3.1%. The energy index increased 2.8% and the food index increas...
The economic activity in the United States' (US) manufacturing sector continued to contract in October, with the Institute for Supply Management's (ISM) Manufacturing Purchasing Managers' Index (PMI) dropping to 48.7 from 49.1 in September. This...
The S&P 500 rose on Monday, led by tech, as a new month of trading began. The benchmark gained 0.5%, while the Nasdaq Composite advanced 1%. The Dow Jones Industrial Average climbed 18 points. Micron Technology gained 5% to lead chipmaker...
Gold prices held near $4,000 an ounce after a weak start on Monday, as China ended long-standing tax breaks for some retailers. This change could weigh on demand in one of the world's largest precious metals markets. Gold bullion prices for...
Asian stock markets moved mixed on Monday, November 3, 2025. Japan led the gains: the Nikkei 225 remained near its record high of around 52.4...
The Nasdaq Composite rose 0.7% and the S&P 500 gained 0.3% on Friday, led by a 10.8% surge in Amazon shares after the company said cloud revenue...
European stocks opened slightly higher in November, with the STOXX 50 and STOXX 600 gaining 0.2%, after closing near record highs in October....
As the U.S. government shutdown disrupts federal employee paychecks across the country, it also exacerbates the financial hardship of attorneys who...