President Trump said the U.S. will delay a threatened 50% tariff on goods from the European Union from June 1 until July 9.

Stock futures rose Tuesday after President Donald Trump did a 180-degree turn on his threat to place a massive 50% tariff on goods imported from the European Union. Dow futures were up 600 points, or 1.

President Donald Trump said Sunday that the U.S. will delay implementation of a 50% tariff on goods from the European Union from June 1 until July 9 to buy time for negotiations with the bloc.