EU president secures vital tariffs delay
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šļø 26 May 2025
ā±ļø 7 minutes
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Summary
From the BBC World Service: EU president Ursula von der Leyen, has secured a delay on President Trumpās proposed 50% tariffs on theĀ European UnionĀ until 9 July. Plus, Southeast Asian leaders are gathering in Kuala Lumpur for their first meeting since the introduction of President Trump's tariffs.
Transcript
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| 0:00.0 | Trump delays EU tariffs, but the clock is still ticking. |
| 0:05.1 | Good morning. This is the Marketplace Morning Report, and we're live from the BBC World Service. |
| 0:10.0 | I'm Leanna Byrne. |
| 0:11.3 | So President Trump is given the European Union a bit more time to strike a trade deal. |
| 0:16.0 | One more month, to be exact. |
| 0:17.4 | He threatened to slap a 50% tariff on European imports as early as Friday. |
| 0:22.8 | But after a call with European Commission President Ursula von der Leyen, |
| 0:26.5 | Trump says he's agreed to hold off pushing the deadline for a deal to July 9th. |
| 0:31.4 | Here's the BBC's Katie Silver. |
| 0:33.2 | There does seem to be some progress von der Leyen for her part, |
| 0:35.8 | said that it was a good phone call with President Trump. |
| 0:38.1 | He posted on social media saying that it was a privilege to extend the deadline. |
| 0:41.7 | And for President Trump, though, the issue is that this trading relationship with the EU |
| 0:45.3 | has been a long-term bug bear. |
| 0:46.9 | He thinks it's unfair. |
| 0:48.1 | According to US government figures, last year, the US bought almost double from the EU |
| 0:52.1 | compared to what it's sold. And Trump has specifically raised concerns when it comes to trade in products like cars and agricultural goods. |
| 0:59.6 | Katie Silver there. Now, let's do the numbers. |
| 1:03.5 | But last minute, U-turn from President Trump gave markets a boost. |
| 1:07.3 | The euro hit a one-month high against the dollar. |
| 1:09.3 | As investors bet, the tariff threat won't materialise, at least not at 50%. Meanwhile, Asian leaders are in Malaysia today for the first meeting of the Association of Southeast Asian Nations, since President Trump unveiled his tariff policies. Members of the ASEAN trade bloc are expected to work on their response to |
| 1:28.7 | Washington and on building closer trade ties across the region. Here's Dr. Deborah Elms from the |
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