Dow, Trump and consumer confidence
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Trump backed off from his threat to impose 50% tariffs on EU imports next month, restoring a July 9 deadline to allow for talks between Washington and the 27-nation bloc to produce a deal. He had said on Friday that he was recommending a 50% tariff effective June 1,
President Donald Trump on Sunday said he was holding off his planned 50% tariffs on EU goods until July 9 to allow for trade talks with the bloc.
European markets and U.S. futures jumped early Tuesday following a weekend trade truce between the E.U. and U.S. after Trump’s threat late last week to tack on 50% imports from the trading bloc.
U.S. stock futures and European shares gained after President Trump gave the EU a temporary reprieve on new threatened tariffs.