European markets rebounded Monday after US President Donald Trump postponed planned 50% tariffs on EU goods, pushing the deadline to July 9. The move followed a call with European Commission President Ursula von der Leyen, who said the EU is ready to negotiate a trade deal.
Trump had initially threatened the steep tariffs, citing a lack of progress in talks and criticizing EU trade barriers. The delay eased market fears, boosting European stocks – the Euro Stoxx 600 rose 1%, while Germany’s DAX jumped 1.7%. US futures also climbed.
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The euro hit a one-month high against the dollar, which weakened further amid fading confidence in US assets. Recent Moody’s downgrade warnings and political gridlock over Trump’s tax plans have added pressure.
Asian markets were mixed, with Japan and South Korea gaining but Australia and Hong Kong declining.
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