President Donald Trump pulled back from threatening a larger trade war with Europe, again. On May 23, Trump said he would impose a 50% tariff on the EU starting on June 1. He later told reporters he felt no need to cut a deal.

The European Union has agreed to fast-track trade talks with the US in a bid to avoid President Trump's 50% tariffs — which, in an about-face, he announced would be delayed until July 9. "This is a positive event,

U.S. President Donald Trump's tariff decisions since he took office on January 20 have shocked financial markets and sent a wave of uncertainty through the global economy. Here is a timeline of the major developments: February 1 - Trump imposes 25% tariffs on Mexican and most Canadian imports and 10% on goods from China,