US President Donald Trump gestures as he complies with the annual National Day at the Memorial Amphitheater held at the Arlington National Cemetery in Arlington, Virginia, USA on May 26, 2025.
Kencedeno | Reuters
US President Donald Trump said Tuesday he is monitoring a “positive” step in trade talks with the European Union after agreeing to delay tariffs on 50% of goods from the bloc until July 9th.
“We’ve just been informed that the EU has called for a quick call to establish a meeting date,” Trump wrote in a post about the True Social Platform.
“This is a positive event and I hope to ultimately open up European countries for trade with the United States, like my same demand for China.”
Trump also said Tuesday that the EU is “walking slowly” in negotiations with the White House over a trade deal.
When threatened by Trump last Friday, an outrageous outlook for even bigger tariffs on one of the US’s biggest trading partners rattled the market. In a post last week, Trump said that discussions with the EU “will not go anywhere.”
But in the midst of groundbreaking hopes, emotions were positive on Tuesday. European Commission President Ursula von der Leyen said in a post on X over the weekend that the EU is “prepared to move forward with talks quickly and decisively.”
Regions of Europe Stoxx 600 The index was slightly extended after commenting on Trump’s comments on Tuesday, up 0.55% in the previous session, but the US market was significantly higher.
The 27-member alliance was hit by a 20% tariff on April 2 as part of Trump’s “mutual” tariff strategy, and since then, almost all trading partners have been cut to 10% for 90 days. At the same time, US obligations for automobiles, steel and aluminum are also affecting block exporters.
EU officials have repeatedly emphasized that they want to reach a deal with the White House, but this will not be at any cost. The European Commission, the EU’s executive arm, began discussions earlier this month on tariff measures targeting US imports worth 95 billion euros ($107.4 billion) if the transaction is not reached.
CNBC contacted the European Commission for comment.
On May 8, the US released a brief summary of its trade agreement with the UK, the latest Trump administration’s first contract, but the companies say they are waiting for more details. The transaction maintains a 10% baseline tariff on UK imports into the US, suggesting that other countries will at least face similar rates.
Trump generally hit a positive tone against the UK due to a more balanced trade relationship in its goods with the US, which he denies the EU, which has a deficit in its goods and has made the US unfair. According to EU figures, the EU-US trade is almost balanced when considering both goods and services.
