
United States President Donald Trump has backed away from launching a trade war with the European Union, two days after threatening to impose punishing tariffs.
Trump said on Sunday that he has agreed to extend trade negotiations with the EU to July 9 following a call with European Commission President Ursula von der Leyen. As part of that agreement, the US will also hold back from imposing a 50 percent tariff on imports from the bloc, which Trump announced on Friday would be imposed on June 1.