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WASHINGTON – President Donald Trump and European Leaders pulled back from the brink of a trade of the United States and the European Union.
But the agreement was vague
In a hastily called Rose Garden appearance with Trump, European Commission Chairman Jean-Claude Juncker said the United States remains embroiled in major trade disputes with China and other trading partners. US and the EU have agreed to hold a new tariff, which suggests that the United States will suspend plans to start European import imports – a move that would have marked a major escalation in trade tensions between the allies.
Trump also said the US has agreed to buy a lot of soybeans and increases its imports of natural gas from the US
"It's encouraging that they're talking about freer trade rather than trade barriers and escalating tariff war," said Rufus Yerxa, president of the National Foreign Trade Council and a U.S. trade official. But he said reaching a deal with the United States would likely prove difficult.
The tone was friendlier than it has been. During a recent European trip, Trump referred to the EU as a "foe, what they do to us in trade." Juncker, after Trump, translated from French into German and French, said, "This is a stupid process, the fact that we can do stupid."
On Wednesday, Trump and Juncker said they agreed to work towards "zero tariffs" and "zero subsidies" on non-automotive goods.
Trump told reporters it was a "very big day for free and fair trade" and later tweeted Juncker in an embrace, with Juncker kissing his cheek
"Obviously the European Union, as represented by @JunckerEU and the United States, as represented by yours truly, love each other!" he wrote.
The president campaigned on a tough deal on trading partners he accused of taking over surplus sales with the US
they pose a threat to US national security. The U.S. and EU are now working to resolve their differences on steel and aluminum – but the tariffs are still in place. And they would continue to hit U.S. trading partners like Canada, Mexico, and Japan even if the U.S. and the EU cut a deal.
Whatever progress was being made for some relief for U.S. automakers. The escalating trade war and tariffs on steel and aluminum. General Motors had its headline, and shares of Ford Motor Co. and had a share of the world. CEO Mary Barra said Wednesday.
Trump has also imposed tariffs on $ 34 billion of Chinese imports – a figure he has attacked to $ 500 billion – in a dispute over Beijing's aggressive drive to supplant US dominance.
China has American pork – a shot at Trump supporters in the US heartland.
The EU is stepping in to ease some of the US farmers' bread. Juncker said the United States, "The Chinese are in the process of buying soybeans, so almost".
Mary Lovely, a Syracuse University economist who studies trade by musical chairs our soybeans are going to Europe. " The trouble is, China last year imported $ 12.3 billion in US soybeans, the EU just $ 1.6 trillion.
Trump's announcement stunned lawmakers who arrived at the White House For the Chairman of the Senate Agriculture Committee called "quite a startling" development.
"I think they are going to say," said Sen. Pat Roberts, R-Kan.
Lawmakers said they still needed to see the details of the agreement. But they said the breakthrough was a step in the right direction.
"We have more confidence in him than we did before," said Rep. Mike Conaway, R-Texas, the chairman of the House Agriculture Committee.
The White House announces the Trump Administration announced a final rule at the speeding up of applications for small-scale exports of liquefied natural gas. The trump administration has made LNG exports a priority, arguing that they help the economy and enhance geopolitical stability in countries that purchase US gas.
Juncker said the two sides of the world to the World Trade Organization, which Trump has The biggest news of the Trump-Juncker meeting is that it appears to have been delayed over the years. Trump put charges on cars and cars parts from Europe.
But the auto trade war with Europe is on the US and the EU is engaged in further trade talks. Daniel Ikenson, director of trade studies at the Libertarian Cato Institute, warned that the fight could be trumped again if Trump grows impatient with Europe.
"he said.
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