Trump Delays EU Tariffs: Trade Talks Extended Until July 9

Following President Trump's postponement of a 50% tariff threat on EU imports, European assets saw a rise. The new deadline is set for July 9. This extension aims to allow further negotiations between Washington and the EU. The euro reached its highest level against the dollar since April 30. Trump initially proposed the tariffs, effective June 1, due to slow progress in discussions. This move had previously shaken global financial markets. Trump agreed to delay the tariffs after a call with European Commission President Ursula von der Leyen. Von der Leyen requested more time to reach an agreement. Trump stated they would meet quickly to seek a deal.