US President Donald Trump announced on Sunday that he had agreed to postpone tariffs on imports from the European Union (EU) until 9 July, following a call with European Commission President Ursula von der Leyen. This brings the tariffs back to the original 90-day deadline, although at a much higher level.
The president had initially announced the entry into force of a 50 per cent tariff on EU products on 1 June. Moreover, in a social media post, he accused the bloc of being ‘very difficult to deal with’, claiming, at the same time, that trade negotiations with the EU were ‘not moving forward’.
‘The EU and the US share the closest and most relevant trade relationship in the world,’ said Ursula von der Leyen, who also indicated that ‘to reach a good deal, we would need time until 9 July’.
While Trump´s announcement of the postponement has given both sides some breathing space, market analysts warned on Monday that the stakes are still high.
Maritime industry specialist Lars Jensen argues that from the cargo owners´ point of view, this means a few more weeks to potentially bring forward shipments as far as practically possible, which could add pressure on the Atlantic route.
News and image obtained: "Mundo Marítimo"
