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Trump Delays EU Tariff Deadline, Opening Door for Further Negotiations
In a surprising turn of events, former U.S. President Donald Trump has decided to postpone the implementation of a 50% tariff on European Union imports, extending the deadline to July 9. The decision follows a weekend phone call with European Commission President Ursula von der Leyen, during which the EU leader requested additional time to reach a trade agreement.
Trump had initially set a June 1 deadline for the tariffs, citing frustration over slow-moving negotiations. The announcement had sent shockwaves through global financial markets, with investors bracing for potential economic fallout. However, after speaking with von der Leyen, Trump agreed to delay the tariffs, stating that both sides would work swiftly to find a resolution.
The EU has been preparing retaliatory measures, including tariffs worth approximately $108 billion, should negotiations fail. Despite the temporary relief, analysts remain cautious, noting that Trump's trade policies have been unpredictable in the past. European markets responded positively to the news, with the euro strengthening against the dollar and stock indices recovering losses.
As trade representatives from both sides prepare for further discussions, the world watches closely to see whether this delay will lead to a lasting agreement or merely another shift in Trump's volatile trade strategy.
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