Donald Trump has paused a proposed 50% tariff on EU goods, extending the negotiation deadline to 9 July after a phone call with EC president Ursula von der Leyen. She requested more time to reach a deal, which Trump agreed to, calling the EU ‘willing to negotiate’. While both sides seek a resolution, the USA remains firm on maintaining a 10% base tariff, rejecting the EU’s recent offer to eliminate industrial tariffs and boost cooperation in AI and energy. Trump’s stance stems from concerns over the EU’s significant trade surplus and regulatory barriers. Meanwhile, the EU has approved retaliatory tariffs worth billions, set to begin on 14 July if talks fail. The escalating tensions risk sparking a costly trade war, which the IMF warns could shrink GDP on both sides. EU and US officials are set to meet next month in Paris to seek resolution. In preparation for these, the EU has requested firms to give details of their dealings with US companies: see