In another short-term trade policy respite, US President Donald Trump postponed his pledge to impose 50% tariffs on European Union products until July, which caused global markets to rise and the euro to rally on Monday.
The MSCI’s most comprehensive global share index increased by 0.2%. The pan-European stock index, which was recently up.9%, bounced back to its previous level before Trump abruptly demanded 50% tariffs on European imports on Friday, claiming that talks with the area had stalled.
Trump changed his mind on Sunday, extending the tariff deadline from June 1 to July 9 after European Commission President Ursula von der Leyen stated that the 27-nation group needed more time to reach an agreement.
Trump’s most recent legislative actions reminded investors of how rapidly things may change. As they prepare for a potential US recession and the ensuing global downturn, analysts have seen investors move their funds from US markets to those in Europe and Asia.
Following US President Donald Trump’s decision to postpone 50% tariffs on the European Union until July 9 to allow more time for discussions, European stock markets surged on Monday.
Trump offered some respite on Sunday when he said that he would postpone the EU tariffs until July 9 following a “very nice call” with Ursula von der Leyen, president of the European Commission. He also stated that officials would “rapidly get together and see if we can work something out.
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