President Donald Trump met with European Commission President Ursula von Der Leyen at the World Economic Forum in Davos, Switzerland on Tuesday, Jan. 21, 2020. According to Trump, he agreed to extend the 50% tariff deadline on the European Union until July 9. He shared on Truth Social that Von der Leyen called him to request the extension from the original June 1 deadline. Trump mentioned that it was his pleasure to agree to the new deadline of July 9, 2025.
Seems like Von der Leyen had a “good call” with Trump and needed more time until July 9 to come up with a “good deal.” She expressed that the EU and US have a significant trade relationship and that Europe is prepared to move forward with talks swiftly and decisively. Trump had initially imposed 20% tariffs on the EU as part of his reciprocal tariffs strategy, but later reduced it to 10% for a temporary period. However, he hinted at implementing a “straight 50% tariff” on the EU starting June 1, citing difficulties in negotiations with the bloc. Despite Von der Leyen’s request for an extension, Trump made it clear that he was not looking to strike a deal with the EU before the new deadline.
Not really sure why this matters, but it seems like Trump and Von der Leyen are trying to navigate through some trade disagreements. Maybe it’s just me, but it sounds like they are both playing hardball with these tariffs. Will they be able to come to a resolution by the new deadline? Only time will tell. But hey, at least they are keeping the lines of communication open, right?
