Trump postpones 50% EU tariff hike until July 9.

President Donald Trump announced Sunday that he has agreed to postpone a planned 50% tariff on European Union imports until July 9, following what he described as a “very nice call” with European Commission President Ursula von der Leyen. The move marks the latest in a pattern of tariff threats followed by last-minute reversals that have left global markets on edge.

“[Von der Leyen] said she wants to get down to serious negotiation,” Trump told reporters at Morristown Municipal Airport in New Jersey. “July 9 would be the day, that was the date she requested. Could we move it from June 1 to July 9? I agreed to do that.”

He added that the two sides would “rapidly get together” to see if a deal could be reached. Just days earlier, Trump had insisted he was “not looking for a deal” and reiterated the 50% tariff would go into effect June 1, following an earlier 20% reciprocal tariff imposed in April — which itself had been delayed, like other proposed trade measures.

Soon after his remarks to reporters, Trump confirmed the development in a post on Truth Social, writing, “Talks will begin rapidly.”

Von der Leyen also commented on the call via X (formerly Twitter), describing the exchange as “good” and reaffirming the EU’s willingness to engage. “Europe is ready to advance talks swiftly and decisively. To reach a good deal, we would need the time until July 9,” she posted.

The delay sparked cautious optimism in global markets. Asian stock indexes posted modest gains in Monday trading: Japan’s Nikkei 225 rose 0.8%, South Korea’s KOSPI gained 0.9%, and China’s Shanghai Composite edged up 0.3%. Other regional markets were mixed, with Taiwan and Australia’s indices holding steady while Hong Kong’s Hang Seng dipped 0.3%.

Trump has repeatedly criticized what he calls “non-monetary trade barriers” and trade imbalances, pointing to the U.S. trade deficit with the EU, which totaled $236 billion last year according to the Commerce Department.

Separately, Trump addressed domestic manufacturing strategy, signaling support for a shift in industrial focus. He said he agreed with Treasury Secretary Scott Bessent’s recent remarks suggesting the U.S. does not need to bring back textile production.

“We’re not looking to make sneakers and t-shirts,” Trump said. “We want to make military equipment. We want to make big things. We want to do the ‘AI thing’ with the computers.”