Trump pauses threatened EU tariffs until July

Catch up quick: On Friday, Trump posted to Truth Social that the EU had been "very difficult to deal with" and that talks were "going nowhere!"

• He said he'd recommend a tariff starting June 1 that was more than double what he'd imposed on "Liberation Day" in early April (but paused a week later).

Yes, but: On Sunday evening, Trump said he'd received a call from Ursula von der Leyen, president of the European Commission, requesting a pause until July 9.

• "[It] was my privilege to do so," he said on Truth Social.
• In a post to X, Von der Leyen said the EU was "ready to advance talks swiftly and decisively."

The intrigue: The Financial Times reported on Friday the U.S. was preparing to reject an approach on trade from the EU, demanding instead that the Europeans make unilateral tariff cuts first.

• Trump later said in the Oval Office he was "not looking for a deal" with Europe.

What to watch: The EU is in the midst of a public review on a proposed list of tariffs on about $100 billion in U.S. goods.

• The fate of that review, and any other counter-tariffs, are up in the air for now in light of Sunday's developments.