After his surprise threat to impose duties of 50% on the European Union starting June 1, President Trump said the U.S. would hold off on additional tariffs until June 9.

The WSJ’s Gavin Bade writes that European Commission President Ursula von der Leyen asked for an extension while talks continue. The reprieve brings the tariff deadline for Europe back to the timeframe Trump set on April 9, when he suspended so-called reciprocal tariffs above 10% on most nations for 90 days. EU imports faced the threat of 20% tariffs at that time, absent a deal. Trump has long maligned the EU, decrying its value-added taxes, and fines and regulations on U.S. businesses. The 27-nation bloc is the largest U.S. trading partner, ahead of Mexico, Canada and China, with pharmaceuticals making up the largest EU-produced import.

This trade imbalance is a major sticking point for the president as he tries to use tariffs to revamp U.S. manufacturing, the Journal’s Konrad Putzier, Alana Pipe and Inti Pacheco write. Beyond pharmaceutical products, the U.S. last year imported from the EU $45.2 billion worth of cars and trucks, various types of machinery, $5.4 billion in wine and $4.4 billion of perfume. Europe is a major buyer of American oil, gas, autos and airplanes, as well as human blood products such as plasma.

• Trump’s Tariffs: The basics on the president’s far-reaching protectionist agenda (WSJ)
• Trump conditionally approved Nippon Steel’s U.S. Steel takeover, defining it as a partnership with key details pending. (WSJ)

The costs of the Trump administration’s new tariffs on China have kicked in for many U.S. importers, including Sunnydaze Decor, which sells outdoor furniture, fire pits and flower pots on Amazon. The Eau Claire, Wisc., company has paid an additional $1 million in tariffs this year, and it is rolling out higher prices in June, the WSJ Logistics Report’s Liz Young writes. Sunnydaze provided three examples of the tariffs it is paying to illustrate the cost breakdown to the firm, why it is looking to shift its production sources and how it plans to raise consumer prices. One of these, a wicker furniture set, will now cost $686 with tariffs included, up from $599.

While importers like Sunnydaze Decor wrestle with their pricing to account for tariffs, many firms also are racing to rebook canceled orders and squeeze shipments onto containerships out of China before a 90-day truce closes in August.

The WSJ’s Hannah Miao and Jason Douglas write that bookings to ship containers from China to the U.S. more than doubled from the previous week in the seven days starting May 12, when the trade truce was announced. Bookings surged to the equivalent of around 2.2 million 20-foot boxes, a level not seen in more than a year. Shipping executives in Asia say there aren’t enough ships available to move goods to the U.S. right away. Chinese manufacturers are welcoming the bump in activity after high tariffs froze orders and production. Still, executives, logistics specialists and analysts say too much uncertainty remains to fuel much of a splurge in new orders, with a 30% tariff still high enough to pinch trade.

New home sales last month rose 10.9% to 743,000 from March, as buyers shrugged off economic uncertainty and high mortgage costs. (WSJ)

Canadian manufacturing sales fell an estimated 2% in April from the month before, with the drop led by declines in petroleum and coal and motor vehicles. (WSJ)

Germany’s economic growth at the start of the year was faster than previously reported, as exports and manufacturing jumped on U.S. firms stockpiling goods ahead of tariffs. (WSJ)

Eurozone wage growth slowed to 2.38% in the first quarter, despite a record-low unemployment rate. (WSJ)

U.K. consumer confidence improved, likely on the rollback of some U.S. tariffs and the Bank of England’s most recent interest-rate cut. (WSJ)

U.K. retail sales rose 1.2% in April, beating expectations of 0.3% growth on warmer weather and recovering food store sales. (WSJ)

Japanese consumer inflation gathered pace in April on higher energy and food prices. (WSJ)

Logistics-software provider WiseTech Global agreed to buy the U.S.’s e2open in a $2.1 billion deal as the Australian company aims to be the operating system for global goods trade. (WSJ)

Kuehne + Nagel agreed to acquire Spanish road-logistics provider Transporte y Distribución Nacional. (WSJ)

BYD offered discounts of 10% to 34% on many models, raising concerns about a new price war in China’s auto market. (WSJ)

Volvo Car said it would cut around 3,000 jobs to slash costs amid a challenging global auto market. (WSJ)

Japan’s Ocean Network Express is in talks with South Korea’s HD Hyundai Heavy Industries over a $2.5 billion purchase of a dozen LNG dual-fueled ships. (The Loadstar)

Japan and the U.S. are close to establishing a joint shipbuilding revitalization fund, with Japanese yards pitching to build car carriers and LNG vessels, and invest in U.S. yards. (Splash 247)

The Department of Commerce issued guidance on calculating the non-U.S. content of vehicles so automakers can determine their tariff rates. (Supply Chain Dive)

An officer on the containership that ran aground in Norway last week said he fell asleep while alone on watch, and has been charged with negligent navigation. (gCaptain)

The world’s largest ocean-going car carrier, built by a unit of SAIC Motor, departed from Shanghai on May 22 loaded with about 7,000 Chinese-made vehicles, bound for Europe. (Marine Insight)

Skyports Drone Services is conducting proof-of-concept shore-to-ship drone deliveries to vessels in the Great Lakes. (WorkBoat)

More than 400 Sunoco Logistics Partners oil-transport drivers in four states withdrew from the United Steelworkers union. (The Trucker)

Mark R. Long is editor of WSJ Logistics Report. Reach him at mark.long@wsj.com. Follow the WSJ Logistics Report team on LinkedIn: Mark R. Long, Liz Young and Paul Berger.