US Equity Futures, European Stocks Gain After Trump Defers 50% Tariff on Imports from EU

Futures on US equity indices gained after US President Donald deferred the proposed 50% tariff on imports from EU into America to 9th July. He had earlier said that 50% tariff on imports from EU would be imposed from 1st June. Futures on Dow Jones Index shot up by more than 1% at the start of the day on Monday, 26th May. Gain in index futures means that markets are expecting the respective index to rise.

European Markets Open on a Positive Note

Most European markets have also opened on a positive note after this relief. At 5:55 p.m. Indian standard time, Euro Stoxx 50 was up by 72.23 points or 1.36%. Euro Stoxx 50 is an index of the top companies from the EU.

Earlier President Trump had said that he was deferring the 50% tariff to July after a phone call with European Commission President, Ursula Von der Leyen. He said that he would give more time to negotiations.

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