European stocks open higher after Trump delays 50% tariffs on EU
European shares are poised to open in positive territory on Monday, after U.S. President Donald Trump said he would delay the roll out of 50% tariffs on the European Union.
DAX futures were trading 1.6% higher at 7:35 a.m. in London, while French CAC 40 futures were up by 1.3%.
U.K. markets are closed for a public holiday.
Trump initially called on Friday for a 50% tariff on EU goods, saying in a post on his Truth Social platform that the duties would begin from June 1. He accused the bloc of being “very difficult to deal with,” and said trade negotiations with the EU were “going nowhere.”
On Sunday, Trump then said he had agreed to delay the 50% tariffs to July 9 following a call from EU Commission President Ursula von der Leyen.
Von der Leyen said in a post on X over the weekend that the EU was “ready to advance talks swiftly and decisively.”
Overnight in Asia, shares were trading in mixed territory, with Japanese and South Korean stocks moving higher as Chinese and Hong Kong-listed shares saw losses.
U.S. markets are closed on Monday for the Memorial Day holiday. Stocks on Wall Street sold off on Friday after Trump’s threat to impose new tariffs on the EU and tech giant Apple.
Source: CNBC
