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Donald Trump has agreed to delay his threat of 50 per cent tariffs on the EU to extend trade negotiations until July 9, after a conversation on Sunday with European Commission president Ursula von der Leyen.
âShe said she wants to get down to serious negotiation,â Trump told reporters. âWe had a very nice call.â
âShe said we will rapidly get together and see if we can work something out.â
Von der Leyen said in a statement that the EU was ready to advance trade talks with the US âswiftly and decisivelyâ but needed Trump to return to his original 90-day negotiation period.
The discussion, in the first publicly disclosed call between the two leaders since Trumpâs inauguration, came two days after the US president said he would impose 50 per cent tariffs on EU imports from June 1 in response to what he said were unsatisfactory negotiations with Brussels.
That represented a big escalation in the simmering transatlantic trade war, and startled European negotiators. Trump had paused his initial imposition of 20 per cent tariffs against the EU in April to begin a 90-day negotiation that was set to end on July 9.
âEurope is ready to advance talks swiftly and decisively. To reach a good deal, we would need the time until July 9,â von der Leyen said in a post on social media, after what she described as a âgood callâ with Trump. Her office confirmed she had initiated the contact.
The statement suggested a possible shift in the commissionâs stance towards finding a compromise. On Friday, von der Leyenâs chief trade negotiator MaroĆĄ Ć efÄoviÄ called for âmutual respect, not threatsâ and said Brussels would âdefend our interestsâ in response to Trumpâs escalation.
After Trump had threatened to impose the 50 per cent tariffs later on Friday, Treasury secretary Scott Bessent had said on Fox News: âI would hope that this would light a fire under the EUâ.
A White House official said they were frustrated the EU had not engaged like other countries. âWe just havenât seen anything material come out of the EU,â said a White House official.
Stephen Moore, an outside economic adviser to Trump, said that von der Leyenâs statement was âa promising signâ that the EU was âready to negotiateâ.
âIt may not be as rapidly as Trump would like to see, but I think this is a peace offering,â Moore told the Financial Times.
Officials on both sides have acknowledged the lack of progress in the EU-US talks, as negotiators stick to long-held positions. Trump has attacked the EU for what he alleges are unfair trade practices, while EU officials say the US refuses to take into account its huge services surplus with the bloc.
âIâm not looking for a deal,â Trump told reporters in the White House on Friday. âWeâve set the deal â itâs at 50 per cent.â
In case Trump follows through on his threat, the EU has prepared a âŹ21bn package of tariffs on US items such as maize, wheat, motorcycles and clothing, and is also discussing an additional list worth âŹ95bn of other targets including Boeing aircraft, cars and bourbon whiskey.