In a move aimed at easing rising trade tensions, U.S. President Donald Trump has extended the deadline for tariff negotiations with the European Union to July 9. The decision follows a “very nice” call with European Commission President Ursula von der Leyen, who also expressed optimism about the ongoing talks.
Originally, Trump had proposed a 20% import tax on EU goods but later reduced it to 10%, allowing more time for negotiations. However, expressing frustration over the slow pace of discussions, he threatened on Friday to raise tariffs to 50% by June 1.
The weekend announcement marks a slight shift in tone, suggesting a renewed willingness to engage diplomatically. “To reach a good deal, we would need the time until July 9,” von der Leyen wrote in her own statement, echoing the U.S. president’s timeline adjustment.
Trump has long criticized what he considers an imbalanced trade relationship between the U.S. and the EU. According to U.S. government data, the EU exported over $600 billion in goods to the U.S. last year, while importing only $370 billion worth from America.
Though Trump argues that tariffs protect U.S. jobs and manufacturing, many economists warn that they may drive up prices for American consumers and disrupt the global economy. Tariffs on EU steel and aluminum imports remain active, while levies on other sectors, such as cars and agriculture, are still under negotiation.
Meanwhile, EU trade chief Maros Sefcovic reaffirmed the bloc’s dedication to reaching a fair deal. “EU-US trade is unmatched and must be guided by mutual respect, not threats,” he stated after calls with U.S. officials. Though the EU had threatened a 25% tariff on €18 billion of U.S. goods, those measures have been paused.
As both sides prepare for intensified discussions, France and Germany continue to push for a diplomatic resolution to avoid economic harm on both continents.