Former US President Donald Trump announced a delay in plans to impose 50% tariffs on the European Union (EU) following what he described as “very good” talks with European Commission President Ursula von der Leyen. The delay aims to give both sides time to continue negotiations and prevent a transatlantic trade war.
Previously, Trump had threatened to raise tariffs from 10% to 50% starting June 1, arguing that negotiations with the EU had stalled and accusing Europe of “uniting to take advantage of the US.” This threat triggered panic in stock markets and weakened the US dollar.
Von der Leyen stated that the EU was prepared to negotiate quickly and firmly. Meanwhile, German Finance Minister Lars Klingbeil stressed that such tariffs would harm the economies of the US, Germany, and the EU. He also highlighted the importance of serious negotiations rather than provocations.
Other top EU officials, such as Trade Commissioner Maroš Šefčovič and Irish Prime Minister Micheál Martin, also warned that high tariffs would severely disrupt the global economy and emphasized the need for a trade relationship based on mutual respect.