Stocks jumped on Tuesday, after Mr. Trump announced over the Memorial Day weekend that he wouldpause the implementationof steep tariffs on the European Union until July 9 to allow more time for trade negotiations with the 27-country bloc. The S&P 500 climbed 90 points, or 1.6%, to 5,893 points, as of 10:43 a.m. EST, while the Dow Jones Industrial Average gained 499 points, or 1.2%. The tech-heavy Nasdaq Composite rose 2.0%. Mr. Trump had initially threatened to impose a "straight 50% Tariff" on the trading bloc, effective June 1. The news, announced by the president in a Truth Social post Friday,sent stocks tumblingas investors braced for more uncertainty. Wall Street rallied after President Trump announced he woulddelay the implementationof EU tariffs, from June 1 to July 9. The administration has been working to strike deals before July 9, when the90-day pause on reciprocal tariffsis set to end. The president announced broad terms of a trade deal withwith the United Kingdomearlier this month, followed by atariff truce with China. Maros Sefcovic, chief trade negotiator for the EU, said Monday, following calls with top U.S. officials, that the bloc was"fully committed"to reaching an agreement with the U.S. by the July deadline. European stocks were up amid news of the U.S.-EU trade talk progress, with Germany's DAX adding 0.7% and the CAC 40 in Paris picking up 0.2%. London's FTSE 100 gained 0.8% Trump delivers Memorial Day remarks at Arlington National Cemetery Full interview: Jack McCain on "Face the Nation" Liverpool car ramming incident not being treated as terrorism, official says