Trump backed away from imposing the levies on EU imports from June 1 after a call with European Commission President Ursula von der Leyen, restoring a July 9 deadline to allow talks between the U.S. and the 27-nation union to produce a deal.

A weekend telephone call between U.S. President Donald Trump and EU chief Ursula von der Leyen gave 'new impetus' to trade talks, the EU said on Monday, after Trump dropped his threat to impose 50% tariffs on imports from the European Union next month.

The European Union and the US signaled a willingness to end a stalemate and work toward a trade deal over the next six weeks, in the first major thaw in their frigid economic relations since President Donald Trump’s second term began in January.