Trump left the tariff risk towards the Eu Union after a weekend name with Block Leader
A weekend telephone call between US President Donald Trump and European Union head Ursula von Der Leyen gave “new inspiration” for business talks, the European Union said on Monday, Trump left his danger of imposing 50 percent tariff on imports from the European Union next month.
Trump restored the July 9 deadline to allow for interaction between Washington and 27-Nation blocks, which he said on Sunday had a “a very good call” with von dera leyen, which the European Union spokesperson said it was started by him.
The Euro hit a one -month high against the dollar on Monday, while European shares increased and were ready to resume the loss of the previous season. Trump’s latest steps reduced the demand for safe-huge property as gold prices fell.
Trade representatives of the US and European Union were due to interaction on Monday afternoon, European time, the European Commission spokesman said, “There was a decline in giving any information about the contents of the call between Trump and Von Der Leyen.”
The spokesperson said, “Now there is also a new inspiration for talks, and we will take it from there.” “They agreed to track both trade talks fast and stay in close contact.”
German Economy Minister Kaitharina Reich called for tariff talks to move forward peacefully. “We have to find a normal path,” he said.
US President Donald Trump has recommended a 50 percent tariff on European Union products starting on June 1. He also threatened the tech veteran Apple with 25 percent tariff on iPhones manufactured in the US, but did not say when they would apply.
Trump said on Friday that he was recommending a 50 percent tariff effective from June 1, stating that the trade talks with the European Union were not growing quickly. The danger cried to global financial markets and intensified a trade war, which has been punctured due to frequent changes in tariff policies towards American business partners and colleagues.
The softest trend of the US President marked another temporarily in his irregular trade policy after two days, even though the latest changes in decision making reminded policy makers and investors how soon the circumstances could change.
“It is possible that a deal with the European Union would reach by 9 July,” said the Commerzbank currency strategist Michael Fister.
“However, it is suspicious of what has changed in terms of fundamental problems after the phone call. One thing should be clear after Friday’s announcement: the brief relief from the tariff we enjoyed was only temporary.”
European companies
The European Union trade head Maros Sefkovic was about to have a video conference with CEOs of Mercedes-Benz, Volkswagen, BMW and Stelanis on Monday, as the businesses wondered what they should do, if there are plans.
Despite the relief, the German family -owned lap group, which makes everything from cables and wires to robotics for factories, warned that some of its special products would still be affected by employed tariffs and volatile business environment.
“Unfortunately, the current American politics is characterized by unpredictory, personal interests and populistism,” CEO Mathias Lap told Reuters.
He said, “Germany’s good transatlantic relations have been created in decades of diplomatic work and mutual understanding for decades. However, his faith in their stability is currently causing large -scale damage,” he said.
French winemakers are ahead of the expectation of 20 percent of the US tariffs on European Union products – if European retaliation with a risk of 200 percent tariff on alcohol.
Trump, who has repeatedly expressed disdain for the European Union and for his treatment on the United States trade, European Commission Chairman Von Der Leyen on Sunday told him that the European Union needs longer to come on an agreement.
She asked her during a call to delay the tariff by July, when she announced a new tariff in April, she was originally determined. Trump told reporters that he had requested.
“I agreed to move it,” Trump said before returning to Washington after a weekend in New Jersey. “He said that we will meet fast together and see if we can do some work.”
Von Der Leyen said in a post on X that he had a “good call” with Trump and the European Union was ready to move forward quickly.
“Europe is ready to pursue talks rapidly and decisively,” he said. “To reach a good deal, we will need time by 9 July.”
According to people familiar with negotiations, Washington had demanded unilateral concessions from Brussels, seeking unilateral concessions from Brussels, while the European Union demands an agreement that both sides can receive.
The European Union already imports 25 percent of the American tariffs on its steel, aluminum and cars and the so -called “mutual” tariff to a “mutual” tariff of 10 percent for almost all other accessories was due to a Levy that was caused by Trump’s growth up to 20 percent after Trump’s 90 -day stagnation in July.
Levy can grow up to 50 percent in the no-deal scenario, which can increase consumer prices on everything from German BMW and Porsche to Italian olive oil and hurt the demand for French luxury handbags.
However, it was not clear whether the risk of 50 percent tariff would be applicable to all European Union imports or is only subject to the “mutual” tariffs of the US, which is not applied to steel and cars and other products, such as semiconductors, pharmaceutical products and subjects such as investigation.
