Trump and European Union officials strike 'zero tariff' deal to avert trade war

Трамп заключил с ЕС договор о снижении тарифов для избежания торговой войны

Trump and European Union officials strike 'zero tariff' deal to avert trade war

The threat of a transatlantic trade war between the USA and Europe seems to have diminished following a successful meeting between Donald Trump and European Commission chief Jean-Claude Juncker last night.

"I understand what he's trying to do", Ryan said of the president, "and the goal he's trying to achieve is a good one: a better deal for Americans, better trade agreements". Qualcomm had said on Wednesday it was dropping the bid.

The U.S. and European allies have been at odds over the president's tariffs on steel imports and are meeting as the trade dispute threatens to spread to automobile production. "That's exactly what we're seeing right here", Bremmer said.

He later tweeted that work on documents was "moving along quickly", adding that the meeting with Mr Juncker had "great warmth".

"But the actual relationship between Trump and these European leaders is enormously damaged", Bremmer said.

Mr Trump has placed tariffs on imported steel and aluminium, saying they pose a threat to USA national security, an argument that the European Union and Canada reject. "It means that they are competitive", Trump told Glor.

He's already slapped steel and aluminum tariffs on allies who in return hit back with retaliatory tariffs on U.S. products like bourbon, jeans and motorcycles.

Just hours prior to the meeting, the EU's trade commissioner Cecilia Malmstrom told Swedish newspaper Dagens Nyheter that the European Union will put tariffs worth $20 billion on US goods if Trump goes ahead with auto tariffs. "Great for global economy!" Earlier in the day, stocks had been mostly flat or down. The dollar fell, led by a surge in the euro, which has been pressured by the deteriorating trade relations with the EU's largest trading partner.

He also flattered the United States commander-in-chief, however.

Steelmakers' shares fell, with United States Steel falling more than 5 percent in extended trading, and AK Steel Holdings sliding 2 percent.

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Trump, Juncker announce deal pulling back from US-EU trade war
Mr Trump announced that negotiations would start immediately as he hailed "a new phase" in America's relationship with the EU. Trump is tweeting that trade partners need to either negotiate a "fair deal, or it gets hit with Tariffs".

It was not clear whether the two sides made any progress on the contentious issue of possible USA tariffs on imports of automobiles from Europe.

"Our local Air Force members provide a vital service to this nation, conducting reconnaissance and surveillance to provide solid intelligence for missions and protect us against threats around the globe", he said.

We will remind that earlier the US President promised to impose 20% duties on auto imports from the European Union.

The two leaders did not specifically mention vehicle tariffs in their statements, keeping the focus on other industrial products.

Trump told reporters it was a "very big day for free and fair trade" and vowed to "resolve the steel and aluminum tariff issues and we will resolve retaliatory tariffs".

The imposition of punishing tariffs on imported goods has been a favored tactic by Trump, but it has prompted USA trading partners to retaliate, creating risks for the economy.

Trump is facing calls from his own party to back down on the tariffs, particularly after the administration announced Tuesday that it will grant up to $12 billion in aid to farmers hurt by retaliatory tariffs.

"They agreed that we would continue to talk and new tariffs on cars will not come so that is the good news".

Officials said the direct payments could help producers of soybeans, which have been hit hard by the Trump tariffs, along with sorghum, corn, wheat, cotton, dairy and farmers raising hogs. 'And we have plenty of it'.

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