India, May 27 -- The major U.S. index futures are currently pointing to a sharply higher open on Tuesday, with stocks likely to regain ground following the steep drop seen last week.
The upward momentum on Wall Street comes after President Donald Trump announced he is delaying a threatened 50 percent tariff on imports from the European Union.
"I received a call today from Ursula von der Leyen, President of the European Commission, requesting an extension on the June 1st deadline on the 50% Tariff with respect to Trade and the European Union," Trump said in a post on Truth Social on Sunday.
"I agreed to the extension - July 9, 2025 - It was my privilege to do so," he added. "The Commission President said that talks will begin rapidly."
T...