The European Union will hold off on imposing retaliatory tariffs on U.S. goods that were set to take effect Monday, signaling an effort to keep trade negotiations with the Trump administration alive through the end of July, the Associated Press reported.

Investors have so far behaved as if they’re counting on the U.S. president to back down, having seen previous U-turns from his administration.

President Donald Trump has posted two new letters on his social media platform announcing tariffs on the European Union and Mexico.

President Donald Trump posted letters to the leaders of Mexico and the European Union, saying they had not done enough to head off the new tariffs.

In a wide-ranging interview with NBC News, Trump talked about tariffs, sending Patriot missiles to NATO for Ukraine and how he'll sell his recently passed "big, beautiful bill."

European shares closed lower on Friday, as losses in banks and healthcare stocks weighed at the end of a week marred by U.S. President Donald Trump's tariff announcements, with the European Union also awaiting a letter on levies from Trump.