Trump paused a larger trade war with the EU. Here's where his trade talks stand around the world.

• President Donald Trump threatened a new tariff on the European Union on Friday.

• Over the holiday weekend, he backed down from the threat.

• Trump has touted some initial deals, but he's made clear that the threat of new tariffs remains.

President Donald Trump pulled back from threatening a larger trade war with Europe, again.

On May 23, Trump said he would impose a 50% tariff on the EU starting on June 1. He later told reporters he felt no need to cut a deal. By May 25, the president said he had agreed to the EU's request to pause the additional tariff until July 9.

"Remember, I am empowered to "SET A DEAL" for Trade into the United States if we are unable to make a deal, or are treated unfairly," Trump wrote on Truth Social on May 27. "I have just been informed that the E.U. has called to quickly establish meeting dates."

Trump's 90-day pause on his "reciprocal tariffs" is also set to end July 9th.

Here's what we know about where discussions stand for major US partners.

European Union: Another tariff pause

Trump said on May 23 that discussions with the EU "are going nowhere!"

Treasury Secretary Scott Bessent told Fox News, "the EU proposals have not been of the same quality that we've seen from our other important trading partners."

As a result, Trump moved to impose the 50% tariff. Days later, the president said that talks had improved.

"I hope that they will, FINALLY, like my same demand to China, open up the European Nations for Trade with the United States of America," Trump wrote May 25 on Truth. "They will BOTH be very happy, and successful, if they do!!!"

US Trade Representative Jamieson Greer and EU Trade Commissioner Maroš Šefčovič are expected to meet in Paris next month.

Tesla CEO Elon Musk said in April that he hoped to see a "free trade zone" between the US and Europe.

China: Interim deal

US-China trade tensions have cooled considerably. On May 12, both sides announced a 90-day period where US tariffs were slashed from 145% to a base of 30%, while China cut its tariffs from 125% to 10%.

The breakthrough came after Bessent and Greer held face-to-face talks with Vice Premier He Lifeng.

Wall Street was surprised by the development as, on the campaign trail, Trump had discussed 60% tariffs on Chinese goods.

Before the interim agreement, Trump had already softened the US stance by granting exemptions on iPhones, computers, and other electronics imported into the US from China.

Trump's recent comments show that such exemptions may not last forever if companies don't reshore manufacturing.

Canada: Talks are still early on

Trump met with Canadian Prime Minister Mark Carney in the Oval Office on May 7.

Carney, an economist and onetime governor of the Bank of England, told reporters that Canadian officials, himself, and Trump planned further trade discussions "in the coming weeks."

During a public portion of their Oval Office meeting, Trump and Carney both said that there needs to be changes made to the US-Mexico-Canada agreement, Trump's first-term rewrite of the North American Free Trade Agreement.

In the meantime, the United States continues to impose a 25% tariff on non-USMCA-compliant Canadian goods and a 10% tariff on energy imported from Canada. Additional US tariffs on automobiles, steel, and aluminum also apply to Canadian goods.

Canada retaliated by imposing a 25% tariff on US goods, including steel, aluminum, and agricultural goods.

United Kingdom: Interim deal

The White House announced an agreement with the UK on May 8, the first since Trump announced and later paused sweeping "reciprocal tariffs."

In the trade agreement, Trump will reverse tariffs on British steel and automobiles

British steel and aluminum won't be subject to US-imposed 25% tariffs. And tariffs for UK cars imported into the United States will be cut from 27.5% to 10% for the first 100,000 vehicles.

US farmers will also get more access to UK markets.

The White House said the deal represents a "$5 billion opportunity for new exports for US farmers, ranchers, and producers."

Trump's 10% tariff — still in effect for most countries — will remain in place for the UK.

India: Talks ongoing

Vice President JD Vance said on May 1 that a US-India trade deal would "be among the first deals" the administration will reach.

A deal has yet to be announced. Indian Commerce Minister Piyush Goyal recently traveled to the US. On X, Goyal wrote that he had "good discussions."

Bloomberg reported that India expects a potential deal to have three phases, beginning with an initial phase that would cover "market access for industrial goods, some farm products and addressing some non-tariff barriers."

Trump announced a 27% tariff on Indian goods at the White House as part of his "Liberation Day" celebration. His 90-day pause on those tariffs ends on July 9.

As a large purchaser of Venezuelan oil, India could also face additional US tariffs.

Vietnam: Talks ongoing

The US and Vietnam have held two rounds of trade talks, but a deal is still no quite done.

Vietnam's Trade Minister Nguyen Hong Dien met with Greer in Washington for some of the meetings. After discussions concluded, Reuters reported, that the Vietnamese statement said that talks will need to continue next month.

Trump imposed a 46% tariff on Vietnam as part of his "Liberation Day" announcement — it, too, is subject to the 90-day pause.

Japan: Talks ongoing

Japan's Prime Minister Shigeru Ishiba told reporters that he spoke with Trump directly, The Associated Press reported

"I expressed my expectations for productive discussion to be held, and we agreed," Ishiba told reporters after the talks, the AP reported May 23rd.

Japan and the US have held three rounds of talks thus far. Economic Revitalization Minister Ryosei Akazawa was recently in Washington for in-person meetings.

Trump imposed a 24% tariff on Japanese goods before announcing his 90-day pause.

South Korea: Talks ongoing

South Korea sent representatives to the US early on, but it's unlikely to be one of the first countries to strike a deal.

That's because South Korea is holding snap elections on June 3. A senior government official previously told Reuters that no deal would come before the election.

South Korea sent a delegation to the US for talks that wrapped up just before Memorial Day weekend.

Read the original article on Business Insider