Mon May 26 01:05:54 UTC 2025: **Here’s a summary of the text:**

President Trump has backed down from his threat to impose 50% tariffs on EU goods, extending the deadline for trade talks to July 9th. This follows a phone call with European Commission President Ursula von der Leyen, who requested more time to reach an agreement. Trump had previously threatened to impose the tariffs on June 1st, citing stalled talks. The EU is ready to continue negotiations, but emphasizes the need for mutual respect. The US trade deficit with the EU is a point of contention, and the EU has prepared retaliatory tariffs if a deal isn’t reached.

**Here’s the news article:**

**Trump Delays Tariff Threat on EU Goods, Extends Trade Talk Deadline**

**Washington D.C.** – In a move that has eased tensions in global markets, President Donald Trump has agreed to postpone the implementation of a threatened 50% tariff on goods from the European Union. The decision follows a phone call with European Commission President Ursula von der Leyen, who requested an extension of the deadline for ongoing trade negotiations.

Trump, who initially set a June 1st deadline for a deal, citing a lack of progress in talks, announced the extension until July 9th via his Truth Social platform. “I received a call today from Ursula von der Leyen, President of the European Commission, requesting an extension on the June 1st deadline… I agreed to the extension,” he wrote.

Von der Leyen confirmed the call, stating on X that it was a “good call with Trump, but that to reach a good deal, we would need the time until July 9.” She emphasized that Europe is ready to advance talks swiftly and decisively.

The threat of increased tariffs had roiled global markets, coming after Trump repeatedly stated his view that the EU was created to take advantage of the United States. Trump has already imposed tariffs on EU steel, aluminum, and automobiles.

Brussels has prepared retaliatory measures, planning to target US goods worth nearly 100 billion euros if negotiations fail. While the US trade deficit in goods with the EU was $236 billion in 2024, the European Commission argues that when services are factored in, the deficit shrinks significantly.

German Finance Minister Lars Klingbeil has urged for serious negotiations with Washington, emphasizing that the tariffs endanger both the US and European economies. The coming weeks will be critical as both sides attempt to navigate complex trade issues and avert a full-blown transatlantic trade war.

Read More