President Trump has paused his 50 percent tariff hike on the European Union until July. The higher rate was supposed to begin in just a few days.
President Trump says he had a productive call with the EU Commissioner over the weekend, saying she wants to reach a deal but needs more time, requesting a pause until July 9th.
President Trump has said the EU has been difficult to deal with and has voiced frustration over how long negotiations were taking. The EU already has a 25 percent tariff on steel and aluminum, along with reciprocal tariffs on around 10 percent of other goods.
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One trader said the products entering the U.S. are primarily grind and trim, noting that the volume and type of beef, on its own, should not cause a major disruption. However, he says fund traders are reacting heavily to headlines rather than market realities.
