Top Overnight News Trump backed away from his threat to impose 50% tariffs on imports from the European Union next month, restoring a July 9 deadline to allow for talks between Washington and the 27-nation bloc to produce a deal. RTRS Treasury Secretary Scott Bessent said that US regulators this summer may ease a rule that’s served as a constraint on banks’ trading in the 29 trillion Treasuries market. “We are very close to moving” on the so-called supplementary leverage ratio, Bessent said BBG Japan will consider trimming issuance of super-long bonds in the wake of recent sharp rises in yields for the notes as policymakers seek to soothe market concerns about worsening government finances. RTRS BOJ Governor Kazuo Ueda indicated his intention to continue raising the benchmark interest rate if the economy improves as expected. BBG Japan’s chief trade negotiator Ryosei Akazawa indicated his aim to resolve tariff talks in time for a June meeting between US President Donald Trump and Japan’s Prime Minister Shigeru Ishiba following Trump’s surprise pivot to allow a partnership between two of the countries’ steelmakers. RTRS UK food inflation rose to the highest level in a year as supermarkets battle higher operating costs stemming from the government’s revenue-raising budget. BBG Several Eurozone countries signal they want to move quickly to strike a trade deal w/the US. FT Salesforce is expected to pay 25 per share for Informatica in a deal set to be announced today. WSJ The Fed’s Neel Kashkari doubled down on his case for caution on further rate moves. He said there’s a “healthy debate” among policymakers about whether to look through the inflation effect of tariffs as a transitory shock, or a lasting issue. BBG