European Union offers trade talks to Trump despite steel and olive tariffs

Politico Trump speaks with Juncker on trade negotiations

Politico Trump speaks with Juncker on trade negotiations

Trump's trade wars have seen the US hit Canada, the European Union and Mexico with tariffs on aluminum and steel - a move that has seen the Great White North fire back with retaliatory tariffs on $16.6-billion of USA steel, aluminium and consumer products.

Trump said Europe agreed to increase purchases of United States liquefied natural gas and lower trade barriers to American soybeans, aiding USA farmers and the energy sector.

At the start of this month, China retaliated against Trump by imposing its own 25 per cent tariffs on key USA products, primarily made in the Midwest states most loyal to the President.

USA 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.

"I also think that Xi is better placed to make more concessions than Juncker was able to offer, and thus obtain more concrete results from Trump", says Rothman.

Juncker said in a White House news conference the USA and European Union "have identified a number of areas in which to work together" with the goal of coming "down to zero on tariffs on industrial goods".

Mr. Juncker said the European Union already imports 35% of its natural gas from US producers, but will work to buy more.

The tweet came on the same day that Trump issued this one, amid news that his administration was starting a $12 billion plan to help US farmers amid trade disputes.

Kudlow described the agreement with Europe as a vindication of Trump's tough stances on trade. If Trump succeeds in using trade wars to bring down European and Chinese trade barriers, he may end up being one of the greatest free-trade presidents in history. President Trump, who has been highly critical of the EU since taking office and has also praised Brexit, had threatened to impose 25 per cent tariffs on European auto imports.

"Our biggest exposure, our biggest unmitigated exposure, is really steel and aluminum when you look at all of the commodities", GM CEO Mary Barra said Wednesday. The trouble is, China previous year imported $12.3 billion in U.S. soybeans, the European Union just $1.6 billion. The official said that the bloc is ready to introduce new counter-tariffs on $20 billion worth of the United States imports.

Islamic State claims responsibility for Toronto shooting: AMAQ
He said Hussain, a Toronto resident, was "polite, respectful, humble" and quiet, and didn't really talk to many people. A girl, 10, who has not been publicly named, and 18-year-old Reese Fallon were killed.

They also agreed to increase trade in services and agriculture, including greater U.S. soy bean exports to the EU.

It's also possible that the mercurial Trump could grow impatient with progress and hit Europe with auto tariffs after all. "It's good that there's now increasing recognition of the fact that the United States can only be strong if it has strong partnerships".

The outcome seemed a victory for Mr. Trump, who had assured supporters that his confrontational trade strategy would bear fruit, and who appears to have conceded little in the talks with the EU.

The two sides will seek to resolve the steel and aluminum tariff issues as well as a number of tariffs imposed in retaliation.

Mary Lovely, a Syracuse University economist who studies a trade, said, "The Chinese are not going to be buying our soybeans, so nearly by musical chairs, our soybeans are going to Europe".

"Good luck to Republicans running on the Trump tariffs in November", the Journal said in a separate op-ed.

Iowa is among the nation's leading producers of soybeans, and the Northeast Iowa event came on the heels of the Agriculture Department's announcement of $12 billion in temporary aid to help farmers deal with retaliatory tariffs from US trading partners. "The EU continues to stand up for free and fair trade".

The damage to USA farmers prompted the Trump administration earlier this month to announce $12 billion (€10 billion) in farm subsidies, mostly to soybean growers.

Agriculture Secretary Sonny Perdue said the impact of lower soy prices and the loss of Chinese buyers would likely cost farmers some $11 billion - an amount that will be covered via direct payments to farmers, government purchases of some products for food assistance programs and trade promotion.

Recommended News

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.