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Copyright 2019

EU Caves To Trump Trade Demands

July 26, 2018

Trump, Juncker Tout Deal Pulling Back From U.S.-EU Trade War

 

  • EU to expand imports of U.S. soybeans and natural gas

  • Trump says both sides will work toward ‘zero’ tariffs

President Donald Trump and European Commission President Jean-Claude Juncker agreed to suspend new tariffs while negotiating over trade, pulling the U.S. and Europe back from the edge of a transatlantic trade war.

 

The leaders pledged to expand European imports of U.S. liquefied natural gas and soybeans and both vowed to lower industrial tariffs, excluding autos. The U.S. and European Union will “hold off on other tariffs”’ while negotiations proceed, as well as re-examine U.S. steel and aluminum tariffs and retaliatory duties imposed by the EU “in due course,” Juncker said.

 

“We had a big day, very big,” Trump said during a press conference with Juncker at the White House on Wednesday. “We are starting the negotiation right now, but we know where it is going.” Trump hailed “a new phase” of trade relations.



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