Bangladesh, May 26 -- In a dramatic reversal that underscored the volatility of transatlantic trade relations, US President Donald Trump has decided to delay the imposition of steep new tariffs on European Union goods until July 9, granting negotiators a temporary reprieve as talks between Washington and Brussels continue to stall.

The announcement, made on May 26, came just two days after Trump threatened to slap a punitive 50% tariff on EU imports starting June 1, citing frustration over the slow pace of negotiations. That threat had sent shockwaves through global financial markets and reignited fears of a renewed trade war between the long-time allies. But following a phone call with European Commission President Ursula von der Leyen,...