European Union Trade Commissioner Maros Sefcovic said on Friday that he had held another call with U.S. Commerce Secretary Howard Lutnick, as the EU and the United States continue efforts to reach a deal on tariffs.

President Donald Trump hailed his threatened 50% tariff on the European Union as a “success” Tuesday after he said the bloc worked to fast-track negotiations. The president announced a blanket 50% tariff on all EU goods last week,

The European Union and the United States are heading back to the bargaining table after President Trump reversed course on a 50% tariff on goods from the E.U.

President Donald Trump stunned European officials and caught some of his own senior advisers off guard with his snap decision Friday to reignite his market-rattling trade war with the European Union.

The legal confusion over tariffs has buffeted U.S. trading partners around the world, casting doubt on the durability of Trump’s favorite bargaining tool.

Gold futures start the short week with sharp losses, returning all gains made in Friday's rally, although the metal remains up more than 25% YTD. Gold surged Friday after President Trump said he was hitting the European Union with a fresh 50% tariff,

Trump threatened to impose the costly tariffs on the European Union starting on June 1, complaining last week that the negotiations were “going nowhere.” He ended up delaying the tariffs on Sunday after speaking with the president of the European Commission.

A new Trump tariff threat targets a bloc of 27 countries that add up to the largest U.S. trade partner.