Trump Pushes Back 50% Tariff Deadline On EU Goods To July 9
- The New York Editorial Desk - Arif
- May 26
- 2 min read
Tone & Political Bias: Weakly Right Leaning
Why: Coverage centers on President Trump’s own framing that the EU “takes advantage” of the U.S., with fewer counter-quotes challenging that view.
The Latest
President Donald Trump has granted the European Union an extra five weeks—until July 9—to reach a new trade accord before he imposes a sweeping 50% tariff on EU imports. The move replaces a June 1 start date announced just two days earlier and follows a phone call with European Commission President Ursula von der Leyen, who asked for more time to negotiate.
How We Got Here
April 3: Trump unveiled global “Liberation Day” tariffs, shocking markets, but paused most duties for 90 days, except on China.
May 23: Frustrated by stalled EU talks, he threatened an immediate 50% levy, writing that the bloc “was formed for the primary purpose of taking advantage of the United States on trade.”
May 25: After von der Leyen’s request, Trump reverted to the original July 9 window, saying the pair “will rapidly get together and see if we can work something out.”
What’s At Stake
The proposed tariff would apply to roughly $606 billion worth of EU goods sent to the U.S. in 2024, based on U.S. trade data. Leading categories of exports include pharmaceuticals, cars and other vehicles, aircraft engines, industrial machinery, petroleum products, and alcoholic beverages.
Economists warn that a 50% surcharge—double the typical rate—could sharply increase costs for U.S. consumers and businesses, particularly in industries reliant on European manufacturing and components.
EU Reaction
Von der Leyen described her call with Trump as a “good call” and confirmed that Europe is “ready to advance talks swiftly and decisively.”
EU officials have emphasized a desire for balanced negotiations, while U.S. officials continue to seek greater concessions. No detailed agenda for the upcoming talks has been released, but both sides have signaled urgency to avoid a trade escalation.
Market Impact
The delay to the tariffs appeared to calm financial markets. European stock indexes rebounded after an earlier drop, the euro strengthened slightly against the U.S. dollar, and U.S. stock futures pointed upward despite the Memorial Day market closure. Analysts from major banks have warned that prolonged uncertainty could still weigh on investment and growth in both regions.
Negotiations Elsewhere
The United Kingdom remains the only country to have finalized a post-April trade deal with the U.S.
Talks with China are ongoing, with both sides having agreed to reduce certain tariffs imposed during the 2024 trade tensions.
Most other nations remain covered under a temporary 90-day tariff pause, set to expire the same day as the EU’s deadline.
Looking Ahead
The U.S. and EU now have until July 9 to resolve key disagreements over industrial goods, digital trade, agriculture, and regulatory standards.
While the extension gives negotiators more time, officials on both sides have acknowledged that progress has been slow. One EU diplomat noted that the new deadline “buys time, not certainty,” highlighting concerns that sudden reversals remain possible.
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