European markets responded enthusiastically to Trump's tariff suspension, with Milan surging 8% before settling at +4.7%. The EU reciprocated by suspending its countermeasures for 90 days, with von der Leyen declaring readiness to negotiate.
However, the White House clarification that Chinese tariffs now totaled 145% sent Wall Street tumbling, highlighting the continued US-China trade tensions. Trump's statement that he would negotiate with the EU as a bloc rather than individual states signaled his diplomatic approach.
Italy's industrial production data showed continued decline (-0.9% monthly, -2.7% annually), marking two years of contraction. Finance Minister Giorgetti halved Italy's growth forecast.
Prada acquired Versace for €1.25 billion, creating a new Italian luxury powerhouse. In sports, Musetti defeated Berrettini in straight sets at Monte Carlo, while the Lazio lost 2-0 to Bodø/Glimt.
Evening news focused on a Spanish family of five dying in a Hudson River helicopter crash in New York.