On May 27, 2025, President Donald Trump announced an extension of the deadline for the proposed 50% tariffs on EU goods, pushing the date from June 1 to July 9.
The decision follows a discussion with European Commission President Ursula von der Leyen, during which the EU presented a new trade proposal. Trump stressed his focus on encouraging the production of high-tech goods like chips and AI technology in the U.S., rather than textiles, stating, "We need big things manufactured here.
" The market has reacted positively to the delay, with U.S. and European equity futures showing gains. This tariff extension has also fueled a risk-on sentiment in the forex market, driving bullish moves in the Australian Dollar (AUD) and New Zealand Dollar (NZD).
These currencies, often seen as risk-sensitive, have benefited from the improved global trade outlook. As of 11:08 AM IST, the positive momentum continues, aligning with broader market trends observed this week.
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