The US president, Donald Trump, announced on Sunday that It will postpone the entry into force of 50% tariffs for the products of the European Union until July 9after a conversation with the president of the European Commission.
Trump’s commercial policy generates fears of a recession and an inflation outbreak; Each announcement of new tariffs causes nervousness and volatility in financial markets.
Trump struck the commercial war on Friday and announced new tariffs for the European Union as of June 1, but after a phone call with the president of the European Commission, Ursula Von der Leyen, accepted a postponement to have more time to negotiate.
Von der Leyen “has just called me (… (and asked me for an extension of the date of June 1 and told me that he wants to establish serious negotiations,” Trump told reporters before going up to Air Force One in Morristown, New Jersey. “I accepted,” he added.
Von der Leyen reported in X that he had a positive call with Trump, but that to reach a good agreement, the EU needs a postponement until July 9.
“Europe is willing to advance the negotiations quickly and decisively. To reach a good agreement, we will need time until July 9,” he said on the social network X.
“The EU and the United States have the most important and close commercial relations in the world,” he added.
The bags in Europe and the United States closed with losses after Trump’s announcement and this Monday the markets in Europe celebrated this extension.
The Paris Cac 40 index rose 1.1% in the first operations and the Dax of Frankfurt won 1.6% on a day in which London and Wall Street are closed by a holiday.
Jochen Stanzl, CMC Markets analyst, said these postponements are a “Trump pattern.”
“The market seems to dance to Trump’s sound: first the threat, then one step back, quickly followed by a rebound, since speculative investors anticipate concessions of the US president,” Stanzl said.
“Serious negotiations”
The United States and the EU were negotiating to avoid a total transatlantic commercial war and had agreed to suspend tariff measures until July, when Trump announced the tariffs on Friday.
Trump regretted that commercial negotiations with the European bloc “are not going anywhere” and accused Europeans of “taking advantage” of the United States.
The German Finance Minister Lars Klingbeil urged a process of “serious negotiations” on Sunday and said he spoke with US Treasury secretary, Scott Besent, on the matter. “We do not need more provocations, but serious negotiations,” Klingbeil told the newspaper Bild. “American tariffs endanger the US economy, as well as the German and the European,” he warned.
Source: Ambito
