Trump confirms EU tariff delay, calls quick talks a positive event

President Donald Trump confirmed delaying the imposition of 50% tariffs on European Union goods until July 9, following a "very nice call" with European Commission President Ursula von der Leyen. This move was described by Trump as a "positive event" and came after the EU requested quick talks to resolve trade tensions.

The announcement sparked a strong rally in both European and U.S. stock markets. The Paris CAC 40 index rose 1.2 percent, Germany's DAX gained 1.7 percent, and Wall Street's major indices also climbed, with the S&P 500 up 1.2 percent and the Nasdaq Composite rising 1.3 percent. The Dow Jones Industrial Average increased by 246 points or 0.59%.

Market analysts noted the pattern of volatility tied to Trump's tariff threats, with investors reacting positively to the delay and the prospect of negotiations. Art Hogan of B. Riley Wealth Management said, "It appears over the weekend that the administration made some calming commentary about getting on a fast track on the negotiations with the Eurozone and delaying that 50 percent tariff announcement."

The easing of trade tensions between the U.S. and the EU helped boost investor confidence, reversing recent losses and powering gains across all 11 S&P sectors, particularly technology stocks. The tech sector surged over 2.4 percent, with semiconductor and AI-related companies leading the advance.

This tariff delay and the commitment to talks have been welcomed by markets as a step away from a potential trade war, providing a more stable outlook for transatlantic trade relations in the near term.

Key quotes and stats:
"Very nice call" with Ursula von der Leyen - Trump
"Positive event" - Trump on quick talks
Paris CAC 40 +1.2%, Germany DAX +1.7%
S&P 500 +1.2%, Nasdaq +1.3%, Dow +246 points (0.59%)
Tech sector up over 2.4%
"Calming commentary about getting on a fast track on the negotiations" - Art Hogan

President Donald Trump confirmed delaying 50% tariffs on European Union goods until July 9, calling quick talks with the EU a "positive event." The announcement boosted European and U.S. stock markets, with major indices rising amid eased trade tensions and investor optimism.