Trump agrees to extend the proposed 50% EU tariff to July 9, 2025, after a call with European Commission President Ursula von der Leyen. Talks are set to "begin rapidly," he said.

President Trump announced in a Truth Social post that he was pushing back the imminent June 1 deadline after he had a “very nice talk” on the phone with the President of the European

President Trump said the U.S. will delay a threatened 50% tariff on goods from the European Union from June 1 until July 9.

On Friday the president threatened a 50% tariff on the European Union and a 25% levy on smart phones if companies failed to move production to the U.S.

European luxury shares tanked on Friday as U.S. President Donald Trump said he is recommending a straight 50% tariff on goods from the European Union starting on June 1. Europe's luxury industry, producing handbags,