Catenaa, Monday, May 26, 2025- European stocks climbed on Monday after US President Donald Trump delayed the implementation of tariffs on the EU and announced expedited trade deal talks.
The Stoxx Europe 600 index recovered its losses from Friday as Trump warned of a 50% tariff on the EU, while Paris CAC 40 recorded 1.4% by the end of Monday’s trading and Xetra DAX gained by 1.68%.
However, on Sunday, Trump said he had agreed to delay the date for the tariffs to July 9 from June 1.
Trump decided to extend the deadline after a phone call with European Commission President Ursula von der Leyen.
Von der Leyen, who heads the EU’s executive arm, said earlier Sunday in a post on X that “Europe is ready to advance talks swiftly and decisively,” but “a good deal” will need “time until July 9.” That’s the date on which Trump’s 90-day pause of his so-called reciprocal tariffs had originally been set to end.
Trump’s tariff threats on Friday also included a 25% levy on smartphones if companies, including Apple Inc. and Samsung Electronics, failed to move production to the US.
Among individual movers in Europe, Thyssenkrupp AG jumped more than 8% after a report that the firm’s chief executive plans to turn it into a holding company, allowing it to cut overhead costs as it divests further units.
Volvo Car AB climbed as much as 4.9% after announcing plans to eliminate around 7% of its global workforce to cut costs and protect profits.
Siemens and defence contractor Rheinmetall were among the top gainers in the German index with 1.8% and 3.2% gains, respectively.
