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In a surprising turn of events, the U.S. has postponed a steep tariff hike on European imports, offering a crucial chance for trade reconciliation. The proposed 50% duty is now on hold until July 9.
The decision followed a cordial exchange between Trump and European Commission President Ursula von der Leyen. The EU is interpreting this as a sign that Washington is open to compromise.
Europe’s major economies are pushing for swift negotiations. With the EU ready to drop tariffs on cars and other goods, the focus now is on crafting a deal that avoids long-term damage to transatlantic trade.