Europe grants a measured welcome to trade between the United States and the EU, government and economy

play. July 26, 2018 – 21:30

[BERLIN] Europe expressed relief on Thursday after US President Donald Trump and the head of the European Commission agreed to attack the transatlantic trade, although the France warned that any agreement should be limited. Reactions in the financial markets ranged from enthusiasm on stock markets to skepticism from foreign currency investors, while commodity experts said Trump's assertion that Europe would buy "a lot" of soybeans to US farmers affected by his trade with China was After meeting Wednesday at the White House the President of the European Commission, Jean-Claude Juncker, Mr. Trump agreed not to impose car rates then that the European Union and the United States were entering into talks on other trade barriers.

The talks would seek to "resolve" US steel and aluminum rights and Europe's retaliatory rights, a step backward from the protection of imports from M Trump for US metal producers. 659006] German Economics Minister Peter Altmaier, a conservative, described the talks as a "breakthrough" that could avert a trade war and save millions of jobs. "Excellent for the global economy," he tweeted late Wednesday.

Business lobbies have been relieved. "Reason has prevailed," said BusinessEurope president Pierre Gattaz,

. However, the German Chambers of Commerce of the DIHK noted that US auto rates were not totally excluded from the table. "The proposed solutions are going in the right direction, but an important part of the skepticism remains," said the DIHK, the European shares progressing Thursday, shares of car manufacturers Fiat, Porsche, Volkswagen and BMW between 2 and 5%.

The reaction of the Social Democratic members of the German coalition government was more measured. "This is not yet the result we are aiming for, but it has had a positive outcome in the entire discussion … on free trade or protectionism more likely than before," said the minister. Foreign Minister Heiko Maas in Seoul

. "America and Europe are not opponents," he said at a press conference: "We are partners and allies with common values ​​and interests."

"The first can only be a united Europe," he added

European Central Bank President Mario Draghi described the Washington meeting as a good sign: "This shows that". there is a willingness to discuss trade issues in a multilateral framework. He added: "It would be difficult for us to go further because we do not know the substance."

France's response was also cautious: Finance Minister Bruno Le Maire praised the talks with Washington but said he does not want to enter a

"On either side, Europeans and the Americans must find something in these discussions, any trade agreement must be based on reciprocity, "said Le Mayor, adding that agriculture must remain out of any negotiation because Europe can not not facilitate its food security. After the talks, Trump highlighted the benefits for US farmers: "The EU will start, almost immediately, to buy a lot of soybeans," he told the press

. said that Europe has already been a big buyer of soybeans in the United States since prices fell in June, as China stopped buying them in retaliation for the trade measures that Mr Trump took in Beijing.

Stefan Vogel Rabobank called Washington's statements "symbolic": "Other US soybean purchases by the EU will certainly take place in the coming months, but it would be for commercial reasons rather than only for Trump / Juncker. "

" Foreign exchange markets were cautious about the outcome of the Washington meeting as investors waited for the fine print. "

" The only thing we learned from the 18 The last few months of Trump's trade policy is that anything that seems certain today may be undermined tomorrow, "Gavekal's strategists said in a note.

REUTERS