Donald Trump has announced that he will pause his threatened 50% tariffs on the European Union until 9 July, after a “very nice call” with EU chief Ursula von der Leyen.
The European Commission president announced in a social media post that she had spoken with Trump and secured the delay to give the two sides more time to negotiate.
European assets rallied on Monday, Reuters reported. The euro hit its highest level against the dollar since 30 April, while European shares surged and were poised to recoup the previous session’s losses.
“Europe is ready to advance talks swiftly and decisively,” von der Leyen wrote. “To reach a good deal, we would need the time until July 9.”
Brussels and Washington have been locked in negotiations in a bid to avert an all-out transatlantic trade war, after Trump’s tariff threat on Friday dramatically raised the stakes.
Trump warned he would impose 50% tariffs on all of the bloc’s imports into the US, saying “discussions with them are going nowhere”, adding that the tariffs would be applied from 1 June. Trump claimed he was “not looking for a deal”, repeating his longstanding view that European states had “banded together to take advantage of us”.
In other news: President Donald Trump said Vladimir Putin had “gone absolutely CRAZY” by unleashing the largest aerial attack of the war on Ukraine and said he was weighing new sanctions on Moscow, though he also scolded Ukrainian president Volodymyr Zelenskyy. Trump posted the remark on Truth Social as sleeping Ukrainians woke to a third consecutive night of Russian aerial attacks, listening for hours to drones buzzing near their homes and eruptions of Ukrainian anti-aircraft fire.
The United States demanded that South Korea resolve the large trade imbalance between the countries during recent trade talks, South Korean media reported on Monday. The US repeatedly raised the issue of the trade imbalance in the commodity sector and both countries agreed it was necessary to address it, broadcaster YTN and the Yonhap news agency reported, citing an unnamed South Korean trade official who was part of the trade delegation.
Trump said on Sunday his tariff policy was aimed at promoting the domestic manufacturing of tanks and technology products, not sneakers and T-shirts. Speaking to reporters before boarding Air Force One in New Jersey, Trump said he agreed with comments from Treasury Secretary Scott Bessent on 29 April that the US does not necessarily need a “booming textile industry” – comments that drew criticism from the National Council of Textile Organizations. “We’re not looking to make sneakers and T-shirts. We want to make military equipment. We want to make big things. We want to do the AI thing with computers,” Trump said.
Malaysian prime minister Anwar Ibrahim said on Monday he has written to US president Donald Trump to organise a meeting between the United States and the Asean regional bloc. Malaysia is chair of the Association of Southeast Asian Nations grouping this year.
Hong Kong’s education bureau has called on the city’s universities to “attract top talent” by opening their doors to those affected by the Trump administration’s attempt to ban Harvard from enrolling international students. Last week the Trump administration revoked Harvard’s Student and Exchange Visitor Program certification, effectively banning the university from accepting foreign students.
Federal judges are discussing a proposal that would shift the armed security personnel responsible for their safety away from the Department of Justice and under their own control, as fears mount that the Trump administration is failing to protect them from a rising tide of hostility. The idea of creating their own armed security detail emerged at a meeting of about 50 federal judges two months ago, according to a Wall Street Journal report.
Trump has been warned by fiscal hawks within his own party in the US senate that he must “get serious” about cutting government spending and reducing the national debt, or else they will block the passage of his signature tax-cutting legislation known as the “big, beautiful bill”.
