European Union bureaucrats have agreed to fast-track trade talks with the U.S. following a phone call between President Donald Trump and EU President Ursula von der Leyen.
Anders Hagstrom for FOX Business:
The European Commission made the announcement Monday following a phone call between Trump and EU President Ursula von der Leyen. Trump had threatened last week to impose a further 50% tariff on European imports beginning June 1, but he has now agreed to delay the plan to July 9 to give time for negotiations.
“They agreed both to fast-track the negotiations and stay in close contact,” commission spokeswoman Paula Pinho told reporters Monday. “These negotiations are complex, and so they are taking time,” she added. “There’s now also a new impetus for the negotiations and we will take it from there.”
Trump announced the tariff extension in a Truth Social post on Sunday, saying that he had a productive phone call with von der Leyen. He posted on social media again Tuesday morning.
President Trump via Truth Social:
I was extremely satisfied with the 50% Tariff allotment on the European Union, especially since they were “slow walking (to put it mildly!), our negotiations with them. Remember, I am empowered to “SET A DEAL” for Trade into the United States if we are unable to make a deal, or are treated unfairly. I have just been informed that the E.U. has called to quickly establish meeting dates. This is a positive event, and I hope that they will, FINALLY, like my same demand to China, open up the European Nations for Trade with the United States of America. They will BOTH be very happy, and successful, if they do!!!
MacDailyNews Take: Here is a list of the top 5 consumer markets by country, based on household final consumption expenditure (HFCE) in U.S. dollar value (consumer spending):
- United States of America: ~$18.8 trillion
-
China: ~$7.0 trillion
- Japan: ~$2.5 trillion
- Germany: ~$2.3 trillion
- India: ~$2.2 trillion
Add up the 2nd – 5th consumer markets on earth and they still total $4.4 trillion less than the United States of America.
Please help support MacDailyNews — and enjoy subscriber-only articles, comments, chat, and more — by subscribing to our Substack: macdailynews.substack.com. Thank you!
Support MacDailyNews at no extra cost to you by using this link to shop at Amazon.
Centralized economic planning does not work.
It would seem this site thinks that every step The Orange One takes to follow his buddy Putin is just peachy.
Tax breaks for the oligarchs! Raise the debt ceiling! Set new deficit records! Trash all existing trade agreements! Isolate and scapegoat when the economy crashes!
Please explain what is great now, idiots. Your emperor has no clue
“Centralized economic planning does not work.”
Tell that to the EU, bless your heart.
The “Big Beautiful Bill” passed by the U.S. House on May 22, 2025, includes tax cuts that benefit a range of groups. The bill makes permanent the 2017 Tax Cuts and Jobs Act provisions, which lower individual income tax rates across all brackets, meaning taxpayers at every income level see some relief. It also introduces new tax breaks, like eliminating taxes on tips and overtime pay through 2028, which directly helps service industry workers, such as restaurant staff, and those working extra hours in various sectors. Small business owners, particularly those structured as pass-through entities, can deduct 23% of qualified business income, up from 20%, benefiting around 26 million entrepreneurs. Farmers get over $10 billion in tax reductions, including income tax cuts, deductions under Section 199A, and estate tax relief, with the estate and gift tax exemption raised to $15 million per individual. Seniors over 65 with incomes below $75,000 (or $150,000 for couples) gain a temporary $4,000 increase in their standard deduction, also through 2028. Families see the child tax credit rise to $2,500 per child from $2,000, with a $1,000 federal contribution to “MAGA” savings accounts for kids under 18, aimed at expenses like education or home purchases.
The “Big Beautiful Bill” delivers broad relief — $13,300 more in take-home pay for a typical family and $11,600 in wage increases for workers — while boosting economic growth by 5.2% over four years, according to the House Ways and Means Committee.
According to the latest IRS data for 2022, the top 1% of American earners — those with incomes over $663,164 — paid 40.4% of all U.S. federal income taxes.
As for reciprocal trade: Those who think President Trump’s tariffs are bad for America, either do not value America or don’t fully understand the magnitude of America’s value.
After trashing the “big beautiful bill” (sic), and being taken to court for overstepping legal privacy protections amongst many other breaches of security, the head of DOGE has reportedly been dismissed. The bill would continue to proliferate wasteful spending on pet projects, expand the debt, and give billionaires huge tax shelters while tossing relative pennies to the working class, all deficits that will have to be paid with interest by the next generation. Trickle down tax bills written by oligarchs have never paid for themselves, and this one does nothing whatsoever to balance the budget. The import taxes (tariffs) that Trump tried to foist on the public have also been determined to be illegal.
DictatorWannabe just got ordered in a federal court that the US President does not have unilateral power to tax, that power sits amongst the people’s representatives, the Congress. So Orange Idiot can’t simply declare emergencies in an effort to run around the law.
You extreme rightie people are so far up Donald’s ass, you can’t even see how a representative democracy was supposed to work. Open your eyes. If you really wanted America to be great, you’d be calling for a balanced budget amendment to the Constitution, term limits for Congress, a ban of unelected officials “working” in government without Senate review and oversight, an end to gerrymandered representative districts, mandatory transparency laws for all election financing, not to mention the banking system, job training programs to go along with improvements to education to make it affortable to all, an end to the balkanized HMO networks who deny medical coverage based on geography, a complete overhaul of the immigration legal framework, and a mandatory national ID which makes law enforcement easier from coast to coast. Instead all we have is a corrupt “businessman” trying to make deals like a thug, threatening trade restrictions on anyone who doesn’t kiss his ring.
Centralized planning doesn’t work, and it’s illegal in the USA. Back in Boston, you may recall Sam Adams and other patriots led the cry, “No taxation without representation”. Now your ilk seem to think a flip-flopping monarchist/rapist/convicted money launderer/6 times bankrupt idiot who claims to fly your colors but in reality espouses none of the values that made the USA superior to corrupt 3rd world dictatorships is going to improve the nation by burning down any checks or balances against his autocratic power.
Thank goodness there are still a few judges and congressmen who know better.
Got Mac News?
The U.S. Court of Appeals for the Federal Circuit just reinstated President Trump’s tariffs during appeal.
President Trump’s Liberation Day tariffs are back in effect, bless your heart.
The head of DOGE was NOT dismissed.
It has now been 130 days, the maximum number of days permitted for a “Special Government Employee” under law. Musk had to step down as required by law.
Why do you lefties always lie?
And after 90 days, all you got was a white house moving the goalposts and threatening tiny nations with extortion letters.
45 was completely incompetent.
dead duck 47, unencumbered by any need to maintain public confidence for a future reelection campaign, is totally off the rails.
if he doesn’t plunge the world into deep recession with his unilateral trade wars, then the USA might get off light with only $3.3 Trillion in additional debt, double digit cost of living increases, and a severe case of stagflation. the pain hasn’t even started yet. let’s see how you like your idiot leader a year from now when exporting nations actually retaliate.
“Centralized economic planning does not work.”
If you lean left, or regularly vote “D” and you’re using this statement as criticism to the guy you childishly refer to using a color, absolutes are not part of your vocab.
You are part the Party of “Whatever it Takes” and that’s not a compliment. It’s the same mindset that’s directed most of the “centralized planners” and it goes way beyond economics and it’s almost always destructive.
The color is Orange.
That is not a criticism, just a fact.
Using you’re brilliant and persuasive logic–Steve, I bet you don’t refer to Obama as the Black One.
It looks like many Americans are holding the spyglass the wrong way.
Fact is: on one side there is a autocratic megalomaniac “president” and on the other a world who gently organizes to leave America behind… or even to get ridd off it like a cancer.
Dear Almux, So, you won’t accept; refute; think you know better and despise & insult the choice of the American electorate…talk about elitism and narcissism! You take the cake!
The country suffered through a theft of presidential powers and a veggie-brained Alzheimer’s patient faking cognizance yet you think that was just fine. Who can trust your warped judgement? Apparently, you put Dem/Marxist party loyalty above all else. That is suicidal for you and the country. Take a walk off a short pier and leave us, the adults, alone you fool.
Yeah, in addition, I’ll add that Almux’s words; “organizes to leave America behind” as pertinent to the current Prez, points to ignorance/denial of the previous Prez deviously enabling (probably not fully aware) the wholesale dilution of law/order and fiscal responsibility with his border policies…all the while lying that we needed new laws to make changes? That anyone approves is bizarre…but even if so, the reason for the desired flow; election numbers encapsulates the D Party’s paradigm: “Whatever it Takes.” This permits broken laws or harmed/killed citizens for voter strength
The Syndrome is real.
https://www.marketwatch.com/story/economy-shrank-0-2-in-the-first-quarter-updated-gdp-shows-as-trade-wars-sapped-u-s-growth-56139c24
Apple and most US companies will perform better when allowed to trade without vindictive tariffs randomly applied by a serial liar who has no clue how modern industry works.
If US manufacturing is so critical to future prosperity, as opposed to services, then why approve the sale of US Steel to Nippon?
If the law was actually followed, the entire DOGE extralegal cancer would have never existed. But with Musk removed, it continues. I you think the well snake-oiled machine can legally continue by rotating in contractors every 130 days, you are as delusional as the trump crime syndicate. The lawsuits are just beginning, and that is the real reason Musk is running away. If his presence was desired more than 130 days, a competent president with both branches of congress in his pocket would easily have amended the legislation. Fact is, every one is sick of druggie Musk.
But, not being so smart, Trump couldn’t be bothered to get congress to support a comprehensive and legal reform to last more than a single presidential term. instead all we got was a hatchet job and Musky is running back to see the smoldering wreckage of his rocket and car companies. What a loser.
If you think leftists always lie, then what does that make the indefensible serial liar who claimed he’d be too busy to golf?