U.S.-EU trade talks reignite as tariff threat paused

President Trump has delayed imposing new tariffs on the European Union, leading to renewed trade negotiations and a surge in stock markets.

President Trump has delayed imposing new tariffs on the European Union, leading to renewed trade negotiations and a surge in stock markets.

U.S.-EU trade talks reignite as tariff threat paused

President Trump has delayed imposing new tariffs on the European Union, leading to renewed trade negotiations and a surge in stock markets.

Stocks surged today after President Donald Trump paused a new round of tariffs against the European Union, reigniting trade talks that could bring relief to American consumers and businesses. The EU's chief negotiator confirmed "good calls" with U.S. officials and stated that Europe is "fully committed" to reaching a deal. President Trump said his tariff threat forced the EU back to the negotiating table, expressing satisfaction with the response to his 50% tariff threat, which is now delayed until July 9. He said the 27-nation bloc had been "slow-walking" talks until now but noted new meetings are being scheduled, calling it a positive event.Kevin Hassett, U.S. National Economic Council Director, said, "The problem with the EU is that they have so many countries that disagree and they can't make up their own minds. So it's been very difficult to negotiate with them."The EU confirmed that the president agreed to fast-track negotiations and proposed that both sides drop all tariffs. This trade relationship, considered the biggest and most complex in the world, involves approximately $1.8 trillion in goods and services crossing the Atlantic annually, including pharmaceuticals, machinery, electronics, cars, aircraft, and luxury food items like wine and cheese.Wall Street reacted immediately to the pause, erasing losses from Friday's market slide when the president first made the tariff threat. Economists noted that a similar pause on U.S.-China tariffs earlier this month is also boosting investor confidence.Consumer confidence is climbing too, with new data showing a sharp jump in optimism around jobs, income, and business conditions for the first time in five months, all tied to the U.S.-China tariff pause. However, experts warn that while talks are back on, no deal has been struck yet.President Trump aims for Europe to buy more American products, targeting a $178 billion trade gap in goods, though Europe argues that services balance it out. Food regulations are another contentious issue, with the EU refusing to lift bans on U.S. beef and chicken made with growth hormones. Trump also criticizes Europe's value-added tax, though experts consider it fair.

WASHINGTON —

Stocks surged today after President Donald Trump paused a new round of tariffs against the European Union, reigniting trade talks that could bring relief to American consumers and businesses.

The EU's chief negotiator confirmed "good calls" with U.S. officials and stated that Europe is "fully committed" to reaching a deal.

President Trump said his tariff threat forced the EU back to the negotiating table, expressing satisfaction with the response to his 50% tariff threat, which is now delayed until July 9. He said the 27-nation bloc had been "slow-walking" talks until now but noted new meetings are being scheduled, calling it a positive event.

Kevin Hassett, U.S. National Economic Council Director, said, "The problem with the EU is that they have so many countries that disagree and they can't make up their own minds. So it's been very difficult to negotiate with them."

The EU confirmed that the president agreed to fast-track negotiations and proposed that both sides drop all tariffs. This trade relationship, considered the biggest and most complex in the world, involves approximately $1.8 trillion in goods and services crossing the Atlantic annually, including pharmaceuticals, machinery, electronics, cars, aircraft, and luxury food items like wine and cheese.

Wall Street reacted immediately to the pause, erasing losses from Friday's market slide when the president first made the tariff threat. Economists noted that a similar pause on U.S.-China tariffs earlier this month is also boosting investor confidence.

Consumer confidence is climbing too, with new data showing a sharp jump in optimism around jobs, income, and business conditions for the first time in five months, all tied to the U.S.-China tariff pause. However, experts warn that while talks are back on, no deal has been struck yet.

President Trump aims for Europe to buy more American products, targeting a $178 billion trade gap in goods, though Europe argues that services balance it out. Food regulations are another contentious issue, with the EU refusing to lift bans on U.S. beef and chicken made with growth hormones. Trump also criticizes Europe's value-added tax, though experts consider it fair.

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