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U.S. US President Donald Trump said on Wednesday that the United States and the European Union are starting talks to lower trade barriers as officials plan to avoid a trade war that is brewing.
"It was a great day for free and fair trade, a very big day indeed," Trump told reporters at the White House after meeting with European Commission President Jean-Claude Juncker.
"We are starting trading right now but we know where it is going," said Trump
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Speaking with Juncker at his side, Trump said that they had agreed in talks to "work together toward zero tariffs, zero non-tariff barriers, and no subsidies on non-automotive industrial goods."
The agreement to convene a "high-level task force" to negotiate tariffs, subsidies and non-tariff barriers would reduce fears of a growing transatlantic trade war triggered by Trump's tariffs on steel and aluminum and the threat of imposing a tariff of 25% on imported cars. auto parts.
"We will also work to reduce barriers and increase trade in services, chemicals, pharmaceuticals and medical, as well as soybean, soy is a big problem," he said, adding that the "big deal" is not enough. Europe would intensify its purchases of natural liquefaction. Trump said, "They're going to be a mbadive buyer of LNG," Trump said.
Trump said the talks would "settle" both United States-imposed tariffs on steel and gas imports. Europe's response and Europe's tariffs on US goods
"A good and constructive meeting"
It was not clear whether both sides had made progress on the contentious issue of potential US tariffs on imports. However, Mr Juncker said that they had agreed not to impose new tariffs during the negotiations
"It was a constructive and good quality meeting," Mr Juncker said.
Trump threatened to impose customs duties. 25 percent of tariffs on auto imports, a decision that would hit hard European automakers like BMW and Volkswagen, as well as Japanese and South Korean automakers.
The Department of Commerce may recommend new tariffs as early as September after an investigation into whether vehicle imports posed a risk to the national security of the United States
. hailed as a major success by EU officials and other European governments.
"A realized breakthrough that can avert the trade war and save millions of jobs! Great for the global economy!" The Minister of Economy of German Chancellor Angela Merkel, Peter Altmaier, tweeted late in the evening in Europe
Brussels had downplayed expectations before the meeting, according to which the EU CEO could deter Trump to impose new tariffs on Europeans. especially German – cars.
The plan foresaw a threat of EU retaliation on US goods that, according to the EU, could wipe out $ 50 billion of US national income in the coming years, while renewing offers resumption of transatlantic trade negotiations. In the end, Trump agreed to resolve the discussions on steel and aluminum tariffs he introduced to European consternation earlier this year, to abandon all the other planned penalties and to enter into a dialogue with Brussels on strengthening trade. The EU will work to lighten US imports, including soybeans and natural gas.
The DIHK Group, one of the leading German industrial groups, said that it was returning to the United States to rebuild a trust base with Europe and tariffs.
"The proposed solutions are going in the right direction, but a significant part of the skepticism remains," said the group in a statement
adding that the meeting had at least shown that Europe would not let itself to divide.
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