U.S. President Donald Trump said Wednesday that he and European Commission President Jean-Claude Juncker have agreed to work toward eliminating tariffs and barriers on trade, ... reducing trade tensions for now.
President Trump and European Commission President Jean-Claude Juncker said Wednesday that they have agreed to work toward removing all trade barriers between the two sides.
On Wednesday President Trump announced a trade deal with the European Union where it will commit to buying more USA soybeans. It sounds at least like the European Union is moving towards new purchases of liquefied natural gas, and Trump sounds bullish in the clip below about soybean exports.
Trump had also claimed the European Union had a $150bn trade surplus with the European Union, but Juncker corrected him, saying it was $50bn less due to a U.S. surplus in services.
Trump agreed: "I think if we could have no tariffs and no barriers and no subsidies, then the USA would be very pleased".
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"I would say most producers feel like they would rather not have the help, but if that (the trade war) is what they're going to do, we're at least glad that they're stepping in", Nichols said. Ryan added that while Trump is seeking "a better deal for Americans, better trade agreements - I just don't think tariffs are the way to go, and our members are making that pretty clear".
Following the meeting at the White House, the pair said the talks would seek to "resolve" United States tariffs on steel and aluminum and Europe's retaliatory duties - marking a step back from Trump's signature import protections for American metals producers.
"This was a good, constructive meeting", he added...
The EU and the USA have been embroiled in a tit-for-tat trade row in the last few months after Mr Trump imposed tariffs on steel and aluminium imports. Trump announced a similar reprieve with China in May, only to impose tariffs.
Canada, Mexico and China - the main target of Mr Trump's trade offensive - also have hit back with steep duties on United States goods, and have filed complaints against Washington at the World Trade Organisation. "Either a country which has treated the United States unfairly on Trade negotiates a fair deal, or it gets hit with Tariffs", Mr. Trump wrote.
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He has slapped taxes on imported steel and aluminum, saying they pose a threat to USA national security.
This is a sign the trade war is hurting Midwest farmers, including tens of millions of dollars of damage in Minnesota - especially to soybean farmers. "Our emphasis continues to be for a swift and sure end to the trade war and tariffs impacting American agriculture".
On the other side, Democratic Senator Tammy Baldwin released a statement, saying the state of Wisconsin has already lost 500 dairy farmers in the a year ago. The two will hold off on further tariffs and the US will relent on steel and aluminum tariffs.
"We are price takers they say and not price makers, so here we are in that situation", Lucas Heinen, President of the Kansas Soybean Association said.
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In addition, the European Union Election Observation Mission (EUEOM) consisting of 100 observers will also monitor the elections. In the 1997 general elections, for the first time, the Pakistan Muslim League-N (PML-N) of Nawaz Sharif won a landslide victory.