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U.S. President Donald Trump on Tuesday praised the European Union’s decision to accelerate trade talks, calling it a “positive event.”
Writing on Truth Social, Trump said, “I have just been informed that the EU has called to quickly establish meeting dates,” and expressed satisfaction with the development.
Trump stated that he hoped the 27-member bloc would “open up” to trade with the U.S, adding, “like my same demand to China.” He wrote that “they will BOTH be very happy, and successful, if they do.”
According to European Commission spokeswoman Paula Pinho, Trump and European Commission President Ursula von der Leyen agreed on Monday to fast-track the trade negotiations and stay in close contact. Pinho said, “These negotiations are complex, and so they are taking time,” but confirmed a “new impetus for the negotiations.”
Trump said he was “extremely satisfied with the 50% tariff allotment on the European Union, especially since they were slow walking (to put it mildly!), our negotiations with them.” He added that he maintains the authority to “SET A DEAL” for trade into the U.S. if negotiations fail or if the U.S. is “treated unfairly.”
The U.S. president agreed on Sunday to postpone the planned 50% tariff on EU goods until July 9, following a “good call” with von der Leyen. The tariff had originally been scheduled to take effect on June 1.
Von der Leyen posted on X following her call with Trump, stating, “Europe is ready to advance talks swiftly and decisively.”
EU trade commissioner Maros Sefcovic said Monday that the European Union remains “fully committed” to reaching a trade agreement with the United States.
The EU’s decision to accelerate talks came after Trump expressed frustration with the speed of the negotiations and used the threat of a tariff as leverage to push for progress, particularly regarding lowering tariffs on American products.
Wall Street stocks rebounded on Tuesday, catching up to a rally in European markets after Trump’s decision to delay tariffs on EU imports. U.S. markets reopened following the Memorial Day holiday, with the S&P 500 gaining over 1% and the Nasdaq rising 1.4%.
In Europe, Frankfurt’s stock market climbed 0.9%, while Paris remained flat in afternoon trading following a strong start to the week.
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