U.S. President Donald Trump backed away from his threat to impose 50% tariffs on imports from the European Union next month, restoring a July 9 deadline to allow for talks between Washington and the 27-nation bloc to produce a deal.

Investors are being warned to "buckle up" for more volatility after U.S. President Donald Trump delayed the roll out of 50% tariffs on the European Union.

The European Union has achieved a significant diplomatic victory by securing a delay in the implementation of new tariffs threatened by U.S. President Donald Trump. Initially, Trump had announced plans to impose an additional 50% tariff on European imports starting June 1.

The acronym stands for "Trump always chickens out" a jab at the president's propensity to impose or threaten steep tariffs and later back off.

President of the European Commission Ursula Von der Leyen said that she had a "good call" with Trump, but needed until July 9 to "reach a good deal."

Wall Street is climbing Tuesday as the roller-coaster ride created by President Donald Trump’s trade policies whips back upward, this time because of a delay for his tariffs on the European