President Donald Trump said that he would extend the European Union’s deadline to face a 50 % tariff until July 9 after a phone call with European Commission President Ursula von der Layen.
“We received a very nice call and agreed to move it,” Trump told reporters on Sunday on his way back to Washington.
From Lain said earlier on Sunday in a publication in x “Europe is ready to advance in the conversations quickly and decisively,” but a “good deal” will need “time until July 9.” This is the date at Trump’s stand for 90 days for the so -called mutual definitions.
The European Union was to be a 20 % tariff under those mutual rates announced in April.
But on Friday, Trump threatened to impose a higher and 50 % tariff on the European Union after the complaint that the bloc was slow walking negotiations and is not fairly targeting American companies with lawsuits and regulations.
Read more:Trump threatens the European Union and smartphones with the escalation of the customs tariff speech
Last week, the European Union shared a commercial proposal with the United States in an attempt to enhance the talks, and Miros Civkovic, the head of trade in the bloc, is a call with his American counterpart, Jamieson Greer, on Friday.
Trump’s recent introductory threat will reach 321 billion dollars in commodity trade in the United States and the European Union, which reduces the gross domestic product of approximately 0.6 % and enhances prices by more than 0.3 %, according to Bloomberg’s economies.
This story was originally shown on Fortune.com
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