Overview

• Donald Trump has delayed imposing 50% tariffs on EU exports until July 9 following a phone call with European Commission President Ursula von der Leyen.
• U.S. and EU trade representatives are meeting on May 26 to discuss pathways to resolve ongoing trade disputes.
• The EU remains subject to existing U.S. tariffs, including a 10% tax on imports and 25% tariffs on cars, steel, and aluminum.
• European Central Bank President Christine Lagarde criticized Trump's comments that the EU was formed to harm the U.S., calling them historically inaccurate and provocative.
• Lagarde urged the EU to actively engage in dialogue with the U.S. to find a negotiated solution to the escalating trade tensions.