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Al Jazeera

Business

Al Jazeera Staff

Why are the US and EU struggling to reach a trade deal?

European Union Donald Trump United States Ursula von der Leyen Maros Sefcovic Europe European Commission

A 3D-printed miniature model depicting US President Donald Trump, the United States flag, and the word 'tariffs' [File: Dado Ruvic/Reuters]

US President Donald Trump has backed away — for now — from imposing steep levies on the European Union, two days after he threatened the bloc with 50 percent tariffs.

On Sunday, Trump agreed to extend his deadline for trade talks until July 9, from the June 1 deadline he set on Friday, after European Commission President Ursula von der Leyen said the bloc needed more time to “reach a good deal”.

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