U.S. President Donald Trump warned on the 25th (local time) that he would waive the 50% tariff he plans to impose on the European Union (EU) starting next month on July 9.
After spending the weekend at his golf course in New Jersey, President Trump met with reporters before returning to the White House, noting that July 9 marks the expiration of the reciprocal tariff waivers he announced last month for various countries.
Earlier, just two days after President Trump issued a 'surprise warning' that he could impose a 50% tariff on the EU, he held a phone call with Ursula von der Leyen, Chairperson of the European Union (EU).
After the call, Chairperson von der Leyen stated on X (formerly Twitter), "We need time until July 9 to reach a good agreement," adding, "The EU is ready to advance negotiations swiftly and decisively."