EU Aligns With President Trump on Trade Issues
Wednesday, US President Donald Trump reached an agreement with European Commission President Jean-Claude Juncker aimed at averting a transatlantic trade war, easing tensions fueled by President Trump’s threat to impose tariffs on car imports.
The 2 sides agreed to expand European imports of US LNG (liquified natural gas) and Soybean and lower industrial tariffs on both sides.
The US and EU will hold off on other tariffs while negotiations proceed.
“We had a big day, very big,” President Trump said at a joint statement with Mr. Juncker at the White House Wednesday. He hailed “a new phase” of trade relations.
The leaders also said they would work toward “Zero” tariffs on industrial goods. President Trump said that they would try to “resolve” steel and aluminum tariffs he imposed earlier this year and retaliatory duties the EU levied in response.
Messrs Trump and Juncker took no questions after their brief remarks in the Rose Garden, an impromptu appearance scheduled after less than 2 hours of talks.
Mr. Juncker came to Washington to avoid US tariffs on cars. He told reporters he entered Wednesday’s meeting with the intention of reaching an agreement with President Trump.
President Trump warned at a cabinet meeting last week that he would move forward with 25% auto tariffs if the meeting with Mr. Juncker did not go well.
President Trump could impose car tariffs on national security grounds once US Commerce Secretary Wilbur Ross completes a required investigation.
Victory Trump and the financial markets responded positively.
America First and MAGA