President Trump said the U.S. will delay a threatened 50% tariff on goods from the European Union from June 1 until July 9.

President Donald Trump said Sunday that the U.S. will delay implementation of a 50% tariff on goods from the European Union from June 1 until July 9 to buy time for negotiations with the bloc.

Trump backed away from his threat to impose 50% tariffs on imports from the European Union next month, restoring a July 9 deadline to allow for talks between Washington and the 27-nation bloc to produce a deal.