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Trump's Tariff Decisions: A New Era in US-EU Trade Relations Begins (May 26, 2025)
On May 26, 2025, President Donald Trump announced a postponement of the planned 50% tariffs on European Union imports until July 9, following a "very nice call" with European Commission President Ursula von der Leyen. This decision positively influenced global markets, with US stock futures and European indexes experiencing gains. The Times of India+3The Guardian+3MarketWatch+3The Times of India+2WSJ+2MarketWatch+2
In efforts to bolster domestic manufacturing, the Trump administration implemented a 25% tariff on all automobiles not produced in the United States, effective April 2. Additionally, President Trump threatened a 25% tariff on smartphones manufactured outside the US, targeting companies like Apple and Samsung to encourage them to relocate production domestically. The Times of India
Turkey was included in the list of countries subjected to a 10% minimum import tariff, as part of the broader trade policy changes initiated by the Trump administration. euronews
These developments have elicited varied international responses, with European and Canadian leaders expressing concerns and considering countermeasures.@EconomicTimes