U.S. President Donald Trump said on Sunday that he had agreed to extend a deadline for trade talks with the European Union until July 9, after the head of the EU executive body said the bloc needed more time to "reach a good deal."

US stock futures rose, with Nasdaq futures up 1%.

Trump told reporters on Sunday that he had granted the request. He said that Ursula von der Leyen, president of the European Commission, told him "we will rapidly get together to see if we can work something out."

Von der Leyen said earlier on Sunday in a social media post that the EU was ready to move quickly in trade talks with the U.S. but needed more time to strike a deal.

Von der Leyen said in a post on X that she had a "good" phone call with Trump.

Trump had said on Friday that he was dissatisfied with the pace of trade talks with the EU and threatened to put 50% tariffs on all EU goods from June 1.

In early April, Trump had set a 90-day window for trade talks for EU and the U.S. which was to end on July 9.