U.S., European Union agree to ease trade tensions

Ann Santiago
July 30, 2018

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Trump said he expected "something very positive to take place" during the White House talks - after sending a series of tweets blasting Europe for unfair treatment of USA exports.

USA import tariffs of 25% on steel and 10% on aluminum imposed in March will remain in place during the talks, but Juncker added: 'It is the first time that the Americans agreed to reassess the measure that they have taken in the steel and aluminum sector'.

Juncker declared he "had the intention to make a deal today and we made a deal today".

The White House and the Europeans now plan to launch talks aimed at an ambitious deal to abolish tariffs on industrial goods.

They also agreed to increase trade in services and agriculture, including greater USA soy bean exports to the EU. "So to have an announcement that two very large economies, the European Union and the US, are going to move toward zero duties, zero-tariff and non-tariff barriers and try to streamline regulatory challenges between the two trading bodies, I think is a positive thing". "And the media said this would lead to a trade war".

"So trump got it way ... wow ... so he slaps tariffs on them and they come to the table to negotiate ... wow".

That's what has been happening in the arena of worldwide trade, and President Donald Trump is rightly calling out our competitors for unfair play. The official said that the bloc is ready to introduce new counter-tariffs on $20 billion worth of the U.S. imports.

While EU officials had threatened immediate retaliation to any auto tariffs, and said they would not negotiate with Washington under duress, they seem to have made a decision to appease the irascible US leader.

Trump and Juncker took no questions after their brief remarks in the Rose Garden, an impromptu appearance scheduled after about three hours of talks.

President Donald Trump on Wednesday sought to assure farmers that he has their back, as some begin to feel the effects of the escalating trade war with China.

The president has repeatedly called the European Union - which includes numerous US's oldest and most committed allies - an unfair trading partner and even labelled it a "foe".

The condition for the deal was that Trump hold off on slapping tariffs on auto imports.

"We will not go against the spirit of this agreement unless either party terminates the negotiation", he said. As part of the deal, the EU has agreed to buy more soybeans and liquid natural gas from the USA, while the States will presumably stop threatening additional tariffs on European automobiles.

He has long complained that the WTO has been unfair to the United States, despite the fact the U.S. has won most of the disputes against China and others.

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