US futures rise, Asian markets slip as Donald Trump delays EU tariff threat to July

Global markets saw mixed movement on Monday after the US President Donald Trump announced he would postpone imposing a 50% tariff on European Union goods, shifting the deadline from June 1 to July 9. The move offered some relief to investors after Trump had earlier warned that EU trade talks were "going nowhere" and threatened steep tariffs.He also warned that mobile phone manufacturers could face 25% duties unless they moved production to the US, fueling broader market uncertainty.US futures showed positive movement, with S&P 500 futures rising 1% and Dow Jones Industrial Average futures advancing 0.8%.Asian markets displayed varied performance, with Tokyo's Nikkei 225 rising 0.7% to 37,427.48 and Seoul's Kospi increasing 1.2% to 2,622.07. However, Hong Kong's Hang Seng declined 1% to 23,370.94, whilst Shanghai's Composite Index decreased 0.3% to 3,338.42. Australia's S&P/ASX 200 remained relatively stable at 8,360.70.Friday's US trading session ended negatively, with the S&P 500 declining 0.7% to 5,802.82, the Dow Jones dropping 0.6% to 41,603.07, and Nasdaq falling 1% to 18,737.21.Apple shares dropped 3%, leading S&P 500 losses after Trump's demands for iPhone production relocation to the US, threatening minimum 25% tariffs. He later broadened this stance to include all foreign-manufactured smartphones, potentially effective from June's end.The S&P 500 had previously experienced a 20% decline from its peak during heightened trade war concerns, before recovering to within 3% of its record high following Trump's temporary tariff suspensions, particularly regarding China.In commodity markets, US benchmark crude oil increased 9 cents to $61.62 per barrel, whilst Brent crude rose 6 cents to $64.27 per barrel. US dollar slipped to 142.32 yen from 142.55, while the euro rose to $1.1411 from $1.1369.