President says EU has agreed to “quickly establish” meeting dates; investors cautiously optimistic ahead of July 9 deadline
US President Donald Trump on Tuesday hailed what he described as a “positive” step forward in trade negotiations with the European Union, claiming that the bloc had reached out to quickly schedule new meetings. The remarks, posted on Trump’s Truth Social platform, helped lift global markets as investors interpreted the delay of punitive tariffs as a potential opening for a broader trade deal.
“I have just been informed that the E.U. has called to quickly establish meeting dates,” Trump wrote. “This is a positive event, and I hope that they will, FINALLY… open up the European Nations for Trade with the United States of America.”
The message comes days after Trump agreed to postpone the implementation of a 50% tariff on EU goods—from 1 June to 9 July—following a Sunday call with European Commission President Ursula von der Leyen. Trump had previously accused the EU of “slow walking” talks, describing negotiations as “going nowhere.”
Markets reacted favourably to signs of renewed engagement. The Stoxx 600 index in Europe extended earlier gains, closing 0.55% higher, while US markets—which had been closed Monday for Memorial Day—opened strongly.
European Trade Commissioner Maroš Šefčovič is now expected to meet US Trade Representative Jamieson Greer at the OECD summit in Paris next week, with technical teams also heading to Washington in the coming days. EU officials insist their stance remains unchanged: a balanced deal that includes tariff elimination on industrial goods, along with increased EU imports of US soybeans, arms, and LNG.
Despite the apparent momentum, analysts warn of continued volatility. “Looking ahead, the EU–US trade dance is a high-stakes tango, with July 9 as the next flashpoint,” said Naeem Aslam of Zaye Capital Markets. He noted that while markets are rallying, the potential for breakdown remains.
Trump, who has often used tariff threats as leverage in trade negotiations, framed the EU’s outreach as a direct result of his pressure campaign. “I was extremely satisfied with the 50% tariff allotment,” he wrote. “If we are unable to make a deal or are treated unfairly, I am empowered to set a deal.”
Behind the scenes, the European Commission has begun soliciting data from major European firms on their US investment plans, indicating efforts to prepare a comprehensive negotiating position. Letters have gone out to companies including BMW, BASF, SAP, and ASML via BusinessEurope and the European Round Table for Industry—both key industry alliances in Brussels.
The potential for a breakthrough deal remains uncertain. French President Emmanuel Macron, speaking in Vietnam on Tuesday, took a veiled swipe at Trump’s unpredictable policies, warning students about “impulsive superpowers” and saying that under Trump, tariffs seem to be imposed “according to the side of the bed on which he woke up.”
