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President Trump says he has agreed to delay a 50 percent tariff on goods from the European Union.
On Wall Street and pre-market trading,
Dow futures have soared by more than 500 points, apparently, in response.
NPR's Rob Schmitz has more.
President Trump's about-face is the latest instance of him declaring an impending tariff and throwing global markets into a panic,
only to later walk it back.
This time around, Trump said he and the European Commission president Ursula von der Leyen had a,
quote, very nice call that prompted the delay.
As recently as Friday,
Trump said he was not looking for a deal with the EU and that the 50 percent tariff would go into effect on the 1st of June.
That rate would have come after he had already imposed a reciprocal tariff on the EU in April of 20 percent,
which itself was delayed.
An EU spokesperson says there is new momentum behind trade talks with the Trump administration.
Rob Schmitz, NPR News, Berlin.
Corporate America's pendulum is swinging away from diversity,