President Donald Trump announced the postponement by over a month of the increased customs tariffs for the European Union.
The 50% tariffs on European products, which were supposed to take effect on June 1, will only be applied starting from July 9, to allow the resumption of trade negotiations with Brussels.
The decision comes after a phone call with Ursula von der Leyen, the head of the European Commission, who expressed willingness to start "serious negotiations" with Washington.
"I told everyone who wanted to listen to me that we had to do this," Trump declared in Morristown, New Jersey, as he was preparing to return to Washington. Von der Leyen, Trump said, promised a "quick meeting to see if we can reach an agreement."
In a social media post on Friday, Trump threatened that he would impose 50% customs duties on goods from the EU, complaining that the bloc of 27 members had been "very difficult in negotiations" regarding trade and that negotiations "lead nowhere." These customs duties would have come into effect starting on June 1.
However, the conversation with von der Leyen seems to have eased tensions, at least for the moment.
"We agreed on the extension - until July 9, 2025 - and it was an honor for me to do this," Trump specified on Truth Social shortly after speaking with reporters Sunday evening.
For her part, Von der Leyen stated that the EU and the US "have the most important and close trade relations in the world."
"Europe is ready to move forward quickly and decisively in negotiations," she pointed out. "To reach a satisfactory agreement, we need time until July 9."