by Manal Barakat, SeaNewsEditor
On Friday, 23 May, US President Donald Trump announced a new development concerning the ongoing trade conflict with the European Union by proposing a significant increase in tariffs.
Trump has threatened to impose a 50% tariff on goods imported from the EU starting 1 June, including products ranging from German automobiles to Italian olive oil.
German media DVZ reported that Trump has now decided to postpone the introduction of these new tariffs to allow more time for negotiations.
The start of the additional fees has been postponed until 9 July, following a meeting with EU Commission President Ursula von der Leyen.
Von der Leyen had also commented on Platform X that the European Union and the United States share one of the most important and closest trade relationships in the world.
"Europe is ready to move talks forward quickly and decisively," she wrote, emphasising the need for time until 9 July to prepare effectively.
This window of opportunity for negotiations follows an earlier delay set by Trump in April, when he suspended new tariffs on imports from around the world for 90 days.
Reuters reports that the European Union exported approximately €500 billion worth of goods to the United States last year.
Germany's exports reached €161 billion, Ireland's €72 billion, and Italy's €65 billion, with the three countries considered the top exporters.
Pharmaceuticals, cars, auto parts, chemicals, and aircraft comprised the largest categories of goods.
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