European shares gain after Trump pushes back planned 50% tariffs on EU

Hong Kong (AP) – European stocks closed higher and futures in the United States on Monday after US president Donald Trump said it would delay a 50 % tariff on goods from the European Union to July 9.

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.

On Monday, the European Union’s senior negotiator of the European Union said he had “good calls” with Trump administration officials and that the European Union is “fully committed” to reaching a commercial deal by the deadline on July 9.

Only 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 markets welcomed the news.

The future of the S&P 500 was gained 1.3 %, while the average in Dow Jones Industrial MEVERUGAL 1 %. The future of the nasdaq compound increased by 1.4 %.

DAX added in Germany 1.5 % to 23,977.83 and CAC 40 in Paris increased by 1 % to 7,810.49.

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 that were 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.