Trump said that today is "a big day of free and fair tr […]
Trump said that today is "a big day of free and fair trade." The two sides agreed to work on zero tariffs, eliminate trade barriers and stop subsidies for non-standard screw products. The two sides will launch a new round of negotiations to resolve steel and aluminum tariffs and retaliatory tariffs of various screw factories, and strengthen energy cooperation.
On Wednesday, US President Trump and European Commission President Juncker announced in a joint meeting with reporters that the United States and the European Union reached an agreement to ease the current tense trade relations. The two sides stated that they will work to eliminate tariffs and trade barriers and avoid the current Trade war. The United States agreed not to impose tariffs on European cars, and the EU agreed to import more US soybeans and natural gas.
The CNN screen shows that the two sides stood side by side in the White House Rose Garden and jointly announced the result. Trump said that today is "a big day of free and fair trade." The two sides agreed to work on zero tariffs, eliminate trade barriers and stop subsidies for non-automotive products. The two sides will launch a new round of negotiations to resolve steel and aluminum tariffs and various retaliatory tariffs. At the same time, the two sides will strengthen energy cooperation.
Juncker said that the talks took about three hours and were very constructive and happy to be able to reach an agreement today. The two sides will reassess the current tariff on steel and aluminum in due course and temporarily suspend further tariff increases.
Since the Trump administration has provoked trade disputes around the world, the EU is the core goal of its "attack." On the issue of increasing tariffs on steel and aluminum, the Trump administration has not given the EU permanent immunity and has officially imposed import tariffs on steel and aluminum. Since then, Trump has further threatened to impose high tariffs on imported cars from the European Union. The tax on imported cars will have a greater impact on the EU economy than the scale of steel and aluminum tariffs. Eric Schweitzer, president of the German Chamber of Commerce and Industry, said that the United States’ tariff on imported cars would reduce Germany’s annual economic output by about 6 billion euros. German Chancellor Angela Merkel also said that the EU will be ready to counter any US measures to car tariffs.
In fact, in the face of the aggressiveness of the Trump administration, the EU has not retreated. Since June 22, the EU has imposed tariffs on products worth about 2.8 billion euros imported from the United States as a counter-measure against the United States to impose high tariffs on steel and aluminum products. The products covered by this tariff include a range of product categories such as steel and aluminum products, agricultural products and motorcycles in the United States.