European and US officials are wrestling over a trade deal. President Trump says if there's no agreement by July 9, he'll impose a crushing 50% tariff or import tax on goods coming in from Europe.

U.S. President Donald Trump said Sunday he will delay 50% tariffs on the European Union until July 9. U.S. stocks dropped on Friday on Trump’s tariff threats against the EU, but the decline was less severe than previous reactions to similar announcements.