U.S. President Donald Trump has postponed the implementation of a proposed 50% tariff on European Union imports, extending the deadline to July 9 to allow for further negotiations. This decision followed a conversation with European Commission President Ursula von der Leyen, who requested additional time to reach a comprehensive trade agreement. The announcement led to a significant rally in global markets, with the S&P 500 rising 2.1% and the Dow Jones Industrial Average gaining 1.8% on Tuesday. European stocks also experienced gains, and the euro strengthened against the dollar. Despite the temporary relief, EU officials face challenges in meeting U.S. demands, which include reducing the trade deficit and addressing non-tariff barriers. The coming weeks are critical as both sides work towards a mutually beneficial agreement. 
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