The EU stated that the result of the weekend phone call between President Trump and European Commission President Ursula von der Leyen provided "new impetus for the negotiations."
On Sunday evening, two days after asserting that the bloc has been "very difficult to deal with" and declaring that discussions were "going nowhere," Trump pushed back a June 1 deadline for a "straight 50% Tariff on the European Union" to July 9.
Talking to reporters in Morristown, New Jersey, Trump confirmed that "July 9 would be the day," before adding that "we will rapidly get together to see if we could work something out."
The European Union, which has 27 member states, comprises the largest US trade partner . The US has reportedly been pressuring the EU to cut tariffs on American goods . The EU is reportedly readying some $108B in retaliatory tariffs if talks fail.
On Friday, Treasury Secretary Scott Bessent sought to soothe market worries by pledging that the US would announce "several" large trade deals in the coming weeks.
Here are the latest updates as the policy reverberates around the world.
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