Trump says agreed with EU to work to lower trade barriers

AP  Jae C. Hong

It remains to be seen if the surprise deal, which came together in just three and half hours of talks, will stand the test of time despite Juncker and Trump's "understanding". Juncker, after Trump imposed tariffs on steel and aluminum imports, said in March that "this is basically a stupid process, the fact that we have to do this".

U.S. farmers have been hurt by China's retaliatory tariffs on American soybeans amid an escalating trade fight between Washington and Beijing, and Trump has been promising relief.

"It means that they are competitive", Mr. Trump told Glor.

On Tuesday, the president said his threat to slap tariffs on European-made automobiles is what prompted senior European Commission officials to schedule meetings with him.

"That indicates [the US] will likely stand ground with the tariffs against China through the fourth quarter, when there are midterm elections in the United States and soy harvests begin in the northern hemisphere, and into the spring of 2019", he said.

European Union officials argued that this concession fell under the flexibility national governments gave Juncker during the round of phone calls with various national leaders he had before his trip.

Juncker came to Washington for a last-ditch bid to avoid US tariffs on cars. In May, Trump abandoned a framework for trade negotiations with China within days of it being announced, before ratcheting up tariffs.

The EU will import more American soybeans and natural gas, adjust regulations to help medical devices be traded more easily, and both sides will decrease industrial tariffs.

"We are starting the negotiation right now, but we know where it is going".

This fresh concession added to past offers made by the Europeans, which were also included in the final communiqué. "It will also make trade fairer and more reciprocal".

The U.S. and the EU had been on course for a full-on trade war after Trump announced earlier this year tough new levies on steel and aluminum exports, . and recently threatening a 25-percent tariff on European autos, with the EU reciprocating with tariffs against U.S. goods.

SA scores big as it sets the stage for Brics meeting
South Africa being part of crafting a new direction can only be positive if it is handled correctly by the government. They were speaking at a three-day meeting of BRICS leaders in Johannesburg, South Africa .

"This was a very big day for free and fair trade, a very big day indeed".

"This will open markets for farmers, workers and increase investment and lead to prosperity in both the United States and the European Union", Trump said.

Their fourth agreement was to "join forces to protect American and European companies from better and really better than ever...we will therefore work closely together with likeminded partners to reform the WTO and to address unfair trading practices including intellectual property theft, forced technology transfer, industrial subsidy, distortions created by state-owned enterprises, and overcapacity".

The EU's trade tactics have irked Trump about as much as his have irked Republican lawmakers, many of whom have called for the GOP chief executive to drop his trade dispute with America's allies and adversaries.

Addressing the China trade relationship, Trump wrote on Twitter, "They are being vicious in what will be their failed attempt".

There was an "understanding", the EU's Juncker said, that "as long as we're negotiating, unless one party would stop the negotiations, we will hold off further tariffs [on cars]".

The meeting exceeded what were low expectations in Brussels. "This was a good and constructive meeting".

Evans-Pritchard said the US-EU agreement will allow Washington to take "a more focused approach" with regards to China, but that it would be hard to find a resolution to the China-US trade war given the Chinese government's reluctance to shift its industrial policies.

China is set to become the focus of Donald Trump's global crusade for "free and fair trade" after reaching a deal with the EU to suspend new tariffs and expand European imports of U.S. goods.

The response to the announcement was mixed, with many legislators criticizing the plan, calling it "welfare for farmers", and farm groups pleading for a more lasting solution. During a briefing, USDA officials said details would be released in the next couple of weeks.

The US and the European Union together count for more than 50% of global GDP and boast a $1 trillion bilateral trade relationship.

Related News:

Most liked

Loris Karius - Liverpool didn't warn me before Alisson signing
Because we've had these young boys around in the last few years, I think we are little bit better in dealing with that. Liverpool manager Jurgen Klopp says his team's "next step" is to win trophies but he "cannot give guarantees".

Cardinals fans would never do what these Cubs fans did
It was then that, during outfielder Ian Happ's at-bat, a foul ball flew its way into the right-field stands. His grab made the rounds online, eventually gaining the attention of the official Cubs Twitter account.

Guardiola says repeat of record-breaking season 'impossible'
That is the point. "His target is to play as many minutes with us, and the national team is a effect of that", he said. Liverpool believe they need these players and spend this money so I'm not judging what they're doing.

Black Ferns beat France to win women's Rugby World Cup Sevens
Fiji will either meet Australia or New Zealand in the Cup semifinals. Men's action is scheduled to conclude on Sunday (July 22). We want this team to create its own history and legacy.

Police accidentally tear gas several Tour de France riders amid farmers' protest
CARCASSONNE, France-So the era of Team Sky dominance at the Tour de France has come to this. It was not immediately clear whether protesters or police used the chemicals.

Heat wave set to bake the county
Monday at Waco Regional Airport, topping the previous all-time high temperature of 112 degrees set on August 11, 1969. Hot temperatures are especially risky for the young and elderly, who are susceptible to heat-related illnesses.

Erdogan says treatment of Germany's Ozil racist and unacceptable
Leon Goretzka, 23, Lars Stindl, 29, and Thomas Mueller, 28, have also played well for Germany in the attacking midfield role. Ozil was part of the German team that suffered an embarrassing exit at the recent Fifa World Cup.

Klopp: Liverpool have to start winning trophies
Christian Pulisic's impressive two-goal display against Liverpool could prove far more costly to the Reds than they ever imagined. We will go again for the championship and each kind of cup, but that does not mean I can sit here and we will get it.

Tesla Turns To Suppliers To Help It Become Profitable
Still, industry analysts said it is unusual for carmakers to request refunds for two previous years, as Tesla has demanded. Tesla shares have fallen sharply after it was revealed the electric carmaker is seeking refunds from some suppliers.

Abuse mars Geraint Thomas's historic summit victory at Tour de France
Van Avermaet explained: "I was waiting for a reaction from Sky when I went to try and get in the breakaway, but nobody reacted". Cavendish struggled across the finish line atop the summit more than 1 hour, 5 minutes after stage victor Geraint Thomas .

Latest On Friday Fortnite: Summer Skirmish Looks To Take Over
Fortnite Battle Royale is free and available on PC, Mac, PlayStation 4, Xbox One, iOS, and soon, Android. It seems like the famous Battle Bus might be getting a birthday makeover for the event, too.

Donald Trump misspoke on Russian Federation
Kim Samoyoa, a research operations manager at a biotech firm in South San Francisco who served as a hospital corpsman in the U.S. But Mr Trump is known for weathering a storm, and even Trump Derangement Syndrome may not be able to bring him down.

Sony Reveals "Amazing Red" Spider-Man PS4 Pro Bundle
A custom Amazing Red 1TB PS4 Pro with the iconic white spider and matching red controller will be launching alongside the game. PS4 players are getting excited for the upcoming release of the new Spider-Man game , which hits shelves this Fall.

What is a currency war and could Trump trigger one?
The U.S. should be allowed to recapture what was lost due to illegal currency manipulation and BAD Trade Deals. But at the same time I'm letting them do what they feel is best , ' Trump said.

Govt sails through no-confidence motion
Prime Minister Narendra Modi , who's a master orator, will attempt to set the record straight on the government's achievements. Congress president Rahul Gandhi's hit-hug-wink ways didn't enthuse the ruling BJP and Speaker Sumitra Mahajan.