Donald Trump EU leaders withdrew from trade war

Donald Trump EU leaders withdrew from trade war

Washington (AP) - President Donald Trump and European leaders withdrew from the brink of war on Wednesday, and agreed to open negotiations to end trade barriers between the United States and the European Union.

But the agreement was unclear, the negotiations with Europe are certain to be disputed and the United States is entangled in major trade disputes with China and other trading partners.

With Trump, it is said in the presence of Gulab Gardens, President of the European Commission Jean-Claude Junaker said that the US and the European Union have agreed to ban new tariffs, suggesting that the United States European Auto Will suspend the plan to start tax on imports - one step would have marked a major increase in trade tension between the allies.

Trump also said that the European Union agreed to buy "many soybean" and increase imports of liquefied natural gas from the United States and both agreed to resolve the dispute over the US tariff on steel and aluminum.

Rufus Yereks, president of the National Foreign Trade Council and former American business officer, said, "It is encouraging that they are talking about trade barriers and independent trade rather than increasing tariff warfare."  But he said that reaching a broad trade agreement with the European Union would probably prove difficult.

The tone was friendly in comparison to this.  During a recent European visit, Trump has told the EU "what did the enemy do with us in business."  After the trump imposed on steel and aluminum imports, Junaker said in March that "This is basically a stupid process, the fact is that we have to do this, but we have to do it, we can fool it too."

On Wednesday, Trump and Junker said they agreed to work on non-motor vehicles on behalf of "zero duty" and "zero subsidy".

Trump told reporters that it was "a huge day for free and fair trade" and later Junker tweeted a picture of himself and Junker with kissing his cheek.

"Clearly as shown by the European Union, as well as @Junkereu and the United States, as you really represent, love each other!"  She wrote.

The President sworn in to work hard on business partners, accusing them of leveraging poor trade deals to run large business surpluses with the US

They slapped taxes on imported steel and aluminum and said they threaten US national security. The US and the European Union are now working to resolve their differences on steel and aluminum - but tariffs are still present.  And even if the US and EU did a deal, they would continue to kill American business partners like Canada, Mexico and Japan.

Whatever progress was received on Wednesday, it could provide some relief to American automotive.Increasing business warfare and tariffs on steel and aluminum had put pressure on the auto company's earnings.General Motors had reduced its outlook, and shares of Ford Motor Company and Auto Parts companies fell.

Donald Trump, EU leaders withdrew from trade war

GM's CEO Mary Barra said on Wednesday, "Our biggest exposure, our biggest unexpected exposure, is actually steel and aluminum when you see all things."

In the dispute over the aggressive campaign of Beijing for supply of American technical dominance, Trump has imposed $ 34 billion of Chinese imports - a figure he threatens to increase to $ 500 billion.

America has competed with tariffs on American products including soybeans and pork - a shot on trump supporters in the American heartland.

The European Union is stepping up to reduce the pain of some EU farmers.  Junaker said that the European Union "can import soybeans more than the US, and it will be done."

A Siracuse University economist Mary Lovely, who studies the business, said, "Chinese are not buying our soybeans, so almost our soybeans are going to Europe."  The trouble is that China imported $ 12.3 billion in US Soybean last year, the EU was just $ 1.6 billion.

Trump's announcement surprised the MPs who had reached the White House, were ready to take down the concerns of the administration's business policies, only the President of the Senate Agricultural Committee, to accelerate the Rose Garden for "quite shocking" development. Ready for

Sen. Pat Roberts, R-Cannes said, "I think how everyone was changing."

Law makers said that they still need to progress on the details of the deal with the European Union and other deals.  But he said that the announcement of success was a step in the right direction.

Chairman of the House Agriculture Committee  R-  Texas, Rip. Mike Conway said, "Now we have more faith before him."

The White House announcement came because the Trump Administration announced the final rule, which was aimed at accelerating the acceptance of applications for small scale export of liquid natural gas.The Trump administration has given priority to LNG exports, arguing that they help the economy and increase geothermal sustainability in the countries buying US gas.

Junaker said that the two parties have agreed to work together to improve the WTO, which has strongly criticized Trump that it is unfair to the US

The biggest news of the Trump-Zucker meeting is that it seems that an attacking trade war on auto is delayed.  Trump threatened tax imported cars, trucks and auto parts, which could potentially target imports of $ 335 billion last year.

The European Union had warned that if Trump followed the duties on cars and auto parts from Europe, then it would vindicate the tariff on products of $ 20 billion.

But Europe is catching up with the auto trade war while the US and EU are engaged in further trade negotiations.Director of Business Studies at the Liberal Cato Institute, Daniel Eckenson warned that if Trump becomes impatient with Europe, then the fight could flare up again.

He said, "As long as the European Union buys more US goods and other things demand trump, auto tariffs are decreasing."