Trump Says EU Calling For Trade Negotiations Is A ‘Positive Event’ After Delaying 50% Tariffs On The Bloc

President Donald Trump on Tuesday praised the European Union’s call for a meeting on trade negotiations as a “positive event.”

In a post on his social media platform Truth Social, President Trump also said that he was ‘extremely satisfied’ with the 50% tariff recommendation on goods imported into the U.S. from the EU, given that the bloc was “slow-walking” negotiations with the U.S. 

However, with the bloc calling for a meeting, the President expressed optimism about the trade talks.

“This is a positive event, and I hope that they will, FINALLY, like my same demand to China, open up the European Nations for Trade with the United States of America,” Trump said.

Earlier on Sunday, the U.S. President revealed that his administration has delayed the implementation of 50% tariffs on the EU.

Originally scheduled for June 1, these tariffs are now set to take effect on July 9, if a trade deal between the U.S. and the EU is not struck by then.

European Commission President Ursula von der Leyen said the EU was “ready to advance talks swiftly and decisively,” after Trump bemoaned the lack of progress with the bloc.

The news of EU tariffs being delayed pushed the markets up on Tuesday, with the Dow Jones gaining 1.42%, while the S&P 500 was up 1.68% at the time of writing.

Meanwhile, the EU is preparing tariffs on €95 billion ($107 billion) worth of U.S. goods.

Von der Leyen previously extended a zero-for-zero tariff suggestion on industrial goods in April.

“Because Europe is always ready for a good deal. So we keep it on the table,” von der Leyen said at the time.

Meanwhile, the SPDR S&P 500 ETF (SPY), which represents the S&P 500 index, was up 1.71% at the time of writing.

1 Euro = 1.13 USD

For updates and corrections, email newsroom[at]stocktwits[dot]com.

Also See: Tesla Hits A Speed Bump In Europe With Sales Plummeting 49% As CEO Elon Musk’s Politics, Rising Competition Hurt EV Giant