European markets surge on Trump call to delay 50% EU tariffs until July 9
European stocks opened up and future futures in the United States also increased after US president Donald Trump said it would delay a 50 % tariff on goods from the European Union to July 9.
Oil prices rose while Asian stocks were often lower.
Trump announced the decision to recover senior import duties after a call on Sunday with Ursula von der Lin, head of the European Commission, who said she “wants to reach serious negotiations,” according to the American President’s account.
Last week, Trump said on social media that commercial talks with the European Union “did not go anywhere” and that the “straight and 50 %” definitions could enter into force on June 1.
The future of the S&P 500 was gained 1.3 % while the Mediterrane Mediate 1.1 %.
DAX in Germany added 1.7 % to 24,020.48 and CAC 40 was in Paris 1.3 % higher to 7,830.99.
The markets were closed in Britain for a vacation.
In Asian trading, Nikio 225 increased in Tokyo 1 % to 37,531.53, while KOSPI in Seoul rose 2 % to 2644.40.
But most other regional markets decreased.
Hang Kong lost from Hang Kong 1.4 % to 23282.33 and the Shanghai Index fell 0.1 % to 3,346.84.
The S&P/ASX 200 has not changed in Australia at 8,361.00.
Taiex fell 0.5 % and gain Sensex in India 0.5 %.
On Friday, the shares of the United States fell as traders were weighing whether Trump’s recent threats were just tactics negotiating.
S&P lost 0.7 % to finish its worst week in the past seven. The Dow Jones industrial average decreased by 0.6 % and with a 1 % nasdak.
Apple decreased by 3 % and was heavier and weighted on the S&P 500 after Trump said he was paying the CEO of Apple Tim Cook to transfer the production of iPhone devices to the United States. He warned of a tariff, “At least 25 % by Apple to the United States” if not.
Trump later explained his position to say that all smartphones made abroad will be imposed on it and customs duties can come as soon as the end of June.
“Samsung and anyone will make this product,” Trump said. “Otherwise, it will not be fair.”
Trump was criticizing companies individually when he was frustrated by how they behave because of his definitions and because of the uncertainty that his trade war created. Earlier from Wall Mart said he should “eat tariffs”, alongside China, after the retail seller said he is likely to raise prices to cover the cost of increasing imports.
Deckeers Outdoor, the company behind HOKA and UGGS, has become one of the latest companies that says all uncertainty about the economy means that it will not make financial expectations for the next year.
Its shares decreased by 19.9 %, although the company reported more powerful profits and revenues for the last quarter of the expected.
Russian stores decreased by 9.8 % after withdrew their financial expectations for the whole year, noting more than half of the goods they sell in China.
On the winning side of the Wall Street was Intuit, which rose by 8.1 % after informing the company behind Turbotax and Credit Karma about a stronger profit for the last quarter of what analysts expected.
The shares in the nuclear industry also increased after Trump signed executive orders to accelerate nuclear licensing decisions, among other measures aimed at paying this industry. Oslo, which develops fast power plants, jumped by 23 %.
Trump Wall Street’s latest tariff threats after recovering most of the losses she suffered earlier due to the trade war. The S&P 500 decreased by 20 % less than its record at one point last month, when concerns were at its height about whether the Trump’s harsh tariff would cause global recession. Then the index rose again in 3 % of its highest level ever after Trump stopped tariffs for many countries, most notably China.
In the other trading early Monday, crude oil in the United States gained 43 cents to $ 61.96 a barrel. Brent crude, the international standard, added 40 cents to $ 64.61 a barrel.
The US dollar advanced to 142.81 yen from 142.48 yen. The euro rose up, to $ 1.1388 from $ 1.1367.
This story was originally shown on Fortune.com
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2025-05-26 09:34:00
