Free Trial

EU trade negotiator says calls with US officials were 'good' after Trump extends tariff deadline

European Commission President Ursula von der Leyen arrives for the weekly college of commissioners meeting at EU headquarters in Brussels, Wednesday, May 21, 2025. (AP Photo/Omar Havana)

Key Points

  • The EU’s chief trade negotiator Maroš Šefčovič said he had good calls with U.S. officials and the bloc is fully committed to reaching a trade deal by the July 9 deadline.
  • President Trump delayed his threatened 50% tariff on European goods from June 1 to July 9 after a call with EU Commission President Ursula von der Leyen to allow more time for negotiations.
  • The EU has proposed a “zero for zero” deal removing tariffs on industrial goods and automobiles, while the U.S. insists on a 10% baseline and keeps 25% duties on steel and autos.
  • Negotiations carry high stakes as the U.S.-EU trading relationship involves about $1.8 trillion in annual goods and services exchanges.
  • MarketBeat previews top five stocks to own in June.

FRANKFURT, Germany (AP) — The European Union's chief trade negotiator said Monday he had “good calls” with Trump administration officials and the EU was “fully committed” to reaching a trade deal by a July 9 deadline, after Trump agreed to delay his threatened 50% tariff — or import tax — on European goods.

Trade Commissioner Maros Sefcovic said on X that the EU's executive commission was pushing “at pace” towards an EU-U.S. deal and the two sides were in constant contact.

Sefcovic's calls with U.S. Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer came a day after Trump said he would delay implementation of the 50% tariff from June 1 until July 9 to buy time for negotiations with the 27-country EU.

That announcement came after Trump's call with EU Commission President Ursula von der Leyen, who told Trump that she “wants to get down to serious negotiations,” according to the U.S. president on Sunday.

In a social media post Friday, Trump had threatened to impose the 50% tariff on EU goods, asserting that the bloc had been “very difficult to deal with” on trade and that negotiations were “going nowhere.”

The stakes are high given the size of the U.S.-EU trading relationship. Although the trade partners don't have a free trade agreement like the one the U.S. has with Mexico and Canada, some $1.8 trillion in goods and services cross the Atlantic in both directions each year.

EU Commission spokeswoman Paula Pinho told a news conference that von der Leyen and Trump agreed to “fast-track” the negotiations. The result of the call means that “there is a new impetus for these negotiations, and we will take it from there ... from our side, we always said we were ready to make a deal.”

The EU has offered Trump a “zero for zero” deal in which tariffs would be removed on industrial goods including automobiles, but the U.S. administration has said it will not lower tariffs below a 10% baseline imposed on almost all its trading partners. Trump has also announced tariffs of 25% on steel and automobiles.

Where Should You Invest $1,000 Right Now?

Before you make your next trade, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.

Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.

They believe these five stocks are the five best companies for investors to buy now...

See The Five Stocks Here

The Next 7 Blockbuster Stocks for Growth Investors Cover

Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

NVIDIA Earnings Preview: HUGE Stock Move Ahead
These 5 Small Stocks Could Deliver Huge Returns
ACT FAST! Congress Is POURING Into This Stock

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines