Donald Trump 'deal' with European Union boss Jean-Claude Juncker averts trade war

AFP | US President Donald Trump,seen here at a roundtable in Peosta Iowa has sought to reassure farmers worried about his trade policies

AFP | US President Donald Trump,seen here at a roundtable in Peosta Iowa has sought to reassure farmers worried about his trade policies

US President Donald Trump and European Commission President Jean-Claude Juncker announced they have agreed to work towards "zero tariffs" and "zero subsidies" on non-car goods.

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The two sides agreed to hold off on further tariffs during negotiations, he said.

Trump and Juncker on Wednesday agreed to the beginnings of a deal that would end the previously growing trade tensions between the United States and the EU.

Juncker said that he rejected the demand to completely open European markets to United States agricultural products, with only an exception for soybeans.

The company credits Trump's plan to impose tariffs on imported steel and aluminum for the move. His administration this year imposed tariffs on steel and aluminum, drawing retaliation from the European Union on a series of US goods.

"Great meeting on Trade today with @JunckerEU and representatives of the European Union".

"China is targeting our farmers, who they know I love & respect, as a way of getting me to continue allowing them to take advantage of the US", Trump tweeted Wednesday morning.

The EU-US joint statement at the end of the two Presidents' meeting committed the two sides to a surprisingly ambitious agenda of trade liberalisation.

The Journal's report says Juncker "flipped through" more than a dozen cards, which had minimal information on them, and all focused on a single issue.

But Huizenga also said it would be hard not to characterize Trump's Wednesday announcement as a win.

Neither the president nor Juncker offered details on what had specifically been agreed to, though Trump - under election-year criticism from Republicans and agricultural supporters over his tariff threats - said the Europeans have agreed to buy more soybeans.

Trump had pressed European leaders hard on trade in recent weeks, including during his meetings with North Atlantic Treaty Organisation allies in Brussels. "So we're used to paying detrimental duties and taxes on imports - it's something we've done for a long time", he said. The U.S. and European Union will work together to reform the World Trade Organization, Trump said.

The Republican president 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.

"We tried earlier in TTIP negotiations to make the United States loosen those laws", Malmstrom said. As part of the deal, the EU has agreed to buy more soybeans and liquid natural gas from the US, while the States will presumably stop threatening additional tariffs on European automobiles.

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