Pakistan, May 26 -- US President Donald Trump has decided to delay his earlier threat of imposing a 50% tariff on European Union imports. Originally scheduled to take effect on June 1, the tariffs are now on hold until July 9, giving both sides time to reach a trade agreement. This decision followed a request from European Commission President Ursula von der Leyen during a phone call on Sunday.

Trump's initial tariff warning on Friday created fresh panic in global markets. The threat caused stock markets to drop, the US dollar to weaken, and fears to rise of worsening trade tensions between two major global economies. Trump had earlier set a 90-day window for talks in April, but surprised many by claiming last week he was no longer inter...