European Union
“We waited for this. God bless, it will work," Ukrainian President Volodymyr Zelenskyy said.
Ursula von der Leyen's proposals reflect growing European Union criticism of Israel's conduct in Gaza and pressure for the bloc's executive body to act.
The deal staves off, at least for now, far higher imports on both sides that might have sent shockwaves through economies around the globe.
U.S. trade partners have faced months of uncertainty and on-and-off threats from Trump to impose tariffs, with deadlines sometimes extended or changed.
WHAT'S HAPPENING
The tariffs, against two of the United States' biggest trading partners, will begin August 1, Trump said.
Trump said he planned to increase tariffs on imported steel and aluminum to 50% from 25%, deepening his trade war.
The threats, delivered over social media, reflect Trump's ability to disrupt the global economy with a burst of typing.
The election comes amid worries stemming from the war in neighboring Ukraine and the U.S. commitment to Europe's security possibly weakening under Trump.
“If negotiations are not satisfactory, our countermeasures will kick in," said European Commission President Ursula von der Leyen.
The "Shark Tank" investor and Trump ally spotted a "really great opportunity" for the president to avoid further escalating his trade wars.