Trump Delays EU Tariffs, Markets and Currencies Surge

U.S. President Donald Trump postponed the implementation of 50% tariffs on European Union imports from June 1 to July 9, sparking a global market rally and renewed trade negotiations between the U.S. and EU. Major U.S. stock indices, including the Dow, S&P 500, and Nasdaq, posted significant gains, while European markets and sensitive sectors such as autos and luxury goods rebounded strongly. Canadian and Australian markets also saw improvements, though Asia-Pacific markets remained mixed amid ongoing trade uncertainty. The euro and British pound strengthened against the dollar as investors weighed expectations of a potential U.S. recession and continued trade unpredictability. Global gold prices softened with renewed risk appetite, and market focus shifted to upcoming earnings from major tech companies like Nvidia. Economists caution that persistent tariff threats could still drive inflation and pressure the global economy if talks fail.