European Markets Climb as Trump Postpones EU Tariffs
(MENAFN) European stock markets climbed on Monday after U.S. President Donald Trump postponed the introduction of a planned 50% tariff on goods from the European Union, pushing the effective date to July 9.
The broader STOXX 600 index for Europe gained 1% by 7 a.m. GMT, hitting 549.7 by 7:50 a.m. GMT.
Major indices across the region posted early gains: Germany’s DAX increased by 1.43%, France’s CAC 40 advanced 1.01%, Italy’s FTSE MIB added 0.93%, and Spain’s IBEX 35 rose 0.81%.
Trump had first announced in April that the U.S. would enact steep tariffs on EU imports starting June 1, accusing the bloc of engaging in unfair trade practices. However, the implementation was postponed after a conversation with European Commission President Ursula von der Leyen.
Posting on Truth Social Sunday, Trump stated that von der Leyen had asked for the delay and added, “talks will begin rapidly.” He described the decision to postpone as “a privilege.”
The announcement helped calm investor nerves in Europe, although analysts expect negotiations between Washington and Brussels to remain fraught in the weeks ahead.
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