The News
US President Donald Trump postponed imposing tariffs of 50% on European Union goods until July.
Trump threatened the higher duties Friday after becoming frustrated over stalled negotiations with the bloc, but after what he called a “very nice” call with European Commission President Ursula von der Leyen, said he was pushing them back.
Trump’s rapid flipflop unnerved investors, who had grown optimistic that the trade war was starting to cool.
The “latest tariff broadsides quickly disabused them of that notion,” Bloomberg reported, saying the moves put “Trump’s volatile policymaking and penchant for brinkmanship” back on display; the president previously announced a 20% import duty on goods from the bloc, before cutting it to 10%.
AD