Trump Delays EU Tariffs, Announces Steel Deal, Criticizes Putin

US President Donald Trump has agreed to extend trade talks with the European Union until July 9 after threatening to impose 50% tariffs on EU goods. The EU had requested more time to negotiate a trade deal, and Trump's decision follows a phone call with EU Commission President Ursula von der Leyen, who said she was ready to move "swiftly" to agree a deal. The tariffs had been set to increase to 10% on July 8, but Trump's threat to raise them to 50% had sparked concerns of a trade war.

President Trump announced a "planned partnership" between U.S. Steel and Japan-based Nippon Steel, stating that U.S. Steel will keep its headquarters in Pittsburgh. The deal, which was previously blocked by the Biden administration, is expected to create at least 70,000 jobs and add $14 billion to the U.S. economy. U.S. Steel's shares jumped 21% on the news. The company and Nippon Steel released statements praising Trump's leadership, but details of the deal, including ownership, remain unclear. Trump's announcement comes after Nippon Steel's $15 billion bid to buy U.S. Steel was blocked, and follows Trump's tariffs on foreign steel imports aimed at keeping industry players in the U.S.

US President Donald Trump's threat to impose 50% tariffs on the European Union has had a muted impact on investors, with major US and European stock indexes reacting less sharply than they did to previous tariff announcements. Trump delayed the tariffs until July 9, and analysts believe the proposal is primarily a "negotiating tactic." While markets still dropped on the week, the S&P 500, Dow Jones Industrial Index, and Nasdaq Composite losses were relatively mild. The sell-off was partly driven by concerns over Trump's tax bill, which is estimated to add $2.3 trillion to the federal deficit, causing Treasury yields to jump. Investors are becoming increasingly desensitized to Trump's tariff announcements, but other factors, such as the upcoming Nvidia earnings report and the US personal consumption expenditure index, will be key in determining market sentiment this week.

US President Donald Trump has agreed to delay imposing a 50% tariff on European goods until July 9, at the request of European Commission President Ursula von der Leyen, who said she needed more time to "reach a good deal" in trade talks with the US.

President Donald Trump has delayed imposing a 50% tariff on European Union imports until July 9, following a conversation with European Commission President Ursula von der Leyen. The decision comes after Trump had previously stated that the tariff would go into effect on June 1. Von der Leyen requested the delay to allow time for negotiations, and Trump agreed, saying that talks will begin rapidly. The delay led to modest gains in Asian stock markets on Monday.

US President Donald Trump has agreed to postpone imposing 50% tariffs on goods from the EU until July 9, after a phone call with European Commission President Ursula von der Leyen, who requested more time for trade negotiations. The original deadline was June 1. Trump said they had a "very nice call" and that von der Leyen wants to "get down to serious negotiations".

President Trump delayed imposing 50% tariffs on European Union imports until July 9, allowing more time for trade negotiations after speaking with EU Commission President Ursula von der Leyen. The decision is a reversal from Trump's previous threat to enact tariffs on June 1, which raised concerns of a potentially destabilizing trade war. The EU has offered concessions, including reducing tariffs on industrial goods and increasing US energy purchases, but Trump remains critical of EU trade policies. Economists warn that the tariffs could slow global economic growth, raise inflation, and increase unemployment.

President Donald Trump criticized Russian President Vladimir Putin, saying he "has gone absolutely crazy" after Russia launched a major aerial attack on Ukraine, killing at least 12 people. Trump also expressed displeasure with Ukrainian President Volodymyr Zelensky's comments, stating that his words "cause problems." Trump is considering additional sanctions against Russia and had previously spoken with Putin in an attempt to negotiate a 30-day ceasefire. Zelensky had accused the US of encouraging Putin's actions with its "silence."

President Trump condemned Russian President Vladimir Putin's decision to escalate attacks on Ukraine, calling it "absolutely crazy" and stating that Putin was "killing a lot of people." Trump expressed surprise at the escalation and considered imposing additional sanctions on Russia. He also criticized Ukrainian President Volodymyr Zelensky, saying that his comments were causing problems and that he was "doing his country no favors." Trump distanced himself from responsibility for the ongoing war, referring to it as "Zelensky's, Putin's, and Biden's War, not 'Trump's.'"