After threatening to place a 50% tariff on imported EU goods on June 1, President Trump delayed the policy over the weekend by postponing the tariff to July 9 to allow for trade talks. Now, it appears that the two sides will soon meet at the table. “I have just been informed that the E.U. has called to quickly establish meeting dates,” said Trump in a Truth Social post.
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U.S-EU Trade Talks in Focus amid 50% Tariff Threat, Large Deficit
Trump added that the EU was previously “slow walking” trade talks, stressing that the 27-nation bloc should open their doors to U.S. trade “like my same demand to China.”
The U.S. and EU are major trading partners. In 2024, the U.S. exported $370.2 billion of goods to the EU and imported $605.8 billion of goods, resulting in a goods trade deficit of $235.6 billion.
The Vanguard FTSE Europe ETF (VGK) has responded positively to the news and is up by over 1% today.
