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Investing.com -- Shares of German automobile manufacturers on Monday witnessed a surge in the early Frankfurt trade, following the decision by U.S. President Donald Trump to postpone his threat of imposing 50% tariffs on imports from the European Union.
Mercedes Benz Group AG (ETR:MBGn) stock saw an increase of above 2%, while Bayerische Motoren Werke AG (ETR:BMWG) also experienced above 2% gain, and Volkswagen AG (ETR:VOWG) edged up by 2.4%.
On Friday, Trump threatened to impose 50% tariff on goods imported from the EU, causing European markets to slump, erasing gains.
Stocks changed course on Monday after Trump’s decision to delay the tariffs.
“I received a call today from Ursula von der Leyen, President of the European Commission, requesting an extension on the June 1st deadline on the 50% Tariff with respect to Trade and the European Union. I agreed to the extension — July 9, 2025 — It was my privilege to do so,” Trump said in a post on Truth Social.
European Commission President Ursula von der Leyen said Sunday she had a "good call” with Trump and that the EU is prepared to move forward with negotiations "swiftly and decisively."