(qlmbusinessnews.com . Tues 27th May, 2025) London, UK —
US-EU Trade War on Hold: Trump Delays Tariff Deadline to July
US President Donald Trump has agreed to prolong trade negotiations with the European Union, delaying the imposition of steep tariffs that had sparked concern across international markets.
The initial deadline to finalise a deal—originally set for 1 June—has now been pushed back to 9 July, following what Trump described as a “very nice” phone conversation with European Commission President Ursula von der Leyen.
The move comes after Trump warned last week that tariffs on EU imports could soar to as high as 50% due to his dissatisfaction with the pace of negotiations. Initially, he proposed a 20% tariff on most EU goods, later reducing it to 10% to allow room for talks.
Von der Leyen welcomed the extension, stating that the bloc is “ready to advance talks swiftly and decisively.” However, she emphasised that more time is needed to reach a “good deal.”
President Trump has long criticised the EU over what he deems an imbalanced trade relationship. In 2024, the EU exported over $600 billion worth of goods to the US, while importing just $370 billion, according to official US figures.
Although Trump asserts that tariffs protect American industries and jobs, economists warn that such measures may drive up consumer prices and further strain global trade.
Automotive and agricultural goods remain at the centre of the dispute, and while some proposed tariffs were paused earlier this year, a 25% levy on EU steel and aluminium imports is still in force.
Speaking at the White House, Trump voiced frustration with the talks, threatening to raise tariffs on all EU imports to 50%. His comments prompted a firm response from EU officials.
European Trade Commissioner Maros Sefcovic, following discussions with top US trade officials, reaffirmed the bloc’s commitment to a fair resolution. “EU-US trade must be guided by mutual respect, not threats. We’re fully engaged and prepared to defend our interests,” he said.
While the EU has drawn up its own retaliatory tariffs—such as a proposed 25% levy on €18 billion worth of American goods—these have been suspended for now. Additional tariffs on up to €95 billion of US imports are currently under consultation.
France and Germany have urged diplomatic restraint, warning that a tit-for-tat trade war could damage both economies at a time of global economic uncertainty.
With the new deadline fast approaching, pressure is mounting on both sides to avoid further escalation and forge a mutually beneficial agreement.
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