Action: In a social media post on May 23, President Trump threatened to impose 50% tariffs on the EU beginning June 1 – the latest development in ongoing negotiations spurred by the President’s April announcement of 20% tariffs on EU goods. That rate was quickly reduced to 10% while negotiators worked on a larger deal, with an early-July deadline set to avoid returning to the 20% tariff. On May 25, the President announced he had agreed to delay implementation of the threatened tariffs until July 9 following a call with European Commission President Ursula von der Leyen to allow negotiators more time to reach a deal. Key Insights
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