French President Emmanuel Macron said on Monday that European Commission President Ursula von der Leyen and U.S. President Donald Trump had a "good exchange" and that he said he hopes they can get to the lowest tariffs possible.

The threat roiled global financial markets and intensified a trade war that has been punctuated by frequent changes in tariff policies toward US trading partners and allies

Trump agrees to extend the proposed 50% EU tariff to July 9, 2025, after a call with European Commission President Ursula von der Leyen. Talks are set to "begin rapidly," he said.