UPDATE: EU Agrees to Buy More US Soybeans

July 25, 2018 04:25 PM
Pres Trump and European Union leaders announced Wednesday they have agreed to work toward "zero tariffs" and "zero subsidies" on non-automobile goods, including buying more US soybeans.

WASHINGTON (AP) - President Donald Trump and European Union leaders announced Wednesday they have agreed to work toward "zero tariffs" and "zero subsidies" on non-automobile goods and would work to resolve U.S. tariffs on steel and aluminum imports that have roiled European markets.

The president, in a hastily called Rose Garden statement with European Commission President Jean-Claude Juncker, said the EU had agreed to buy "a lot of soybeans" and increase its imports of liquefied natural gas from the U.S. Juncker, meanwhile, said the U.S. and EU had agreed to hold off on further tariffs as part of trade talks aimed at averting a crippling trade dispute involving the lucrative automobile market.

Trump told reporters it was a "very big day for free and fair trade" and vowed to "resolve the steel and aluminum tariff issues and we will resolve retaliatory tariffs. We have some tariffs that are retaliatory and that will get resolved as part of what we're doing."

"We're starting the negotiation right now, but we know very much where it's going," Trump said after talks with European counterparts.

Juncker said he had an "intention to make a deal today and we made a deal today. We have identified a number of areas on which to work together, work towards zero tariffs on industrial goods. That was my main intention, for those to come down to zero tariffs on industrial goods."

As U.S. soybean farmers have struggled against retaliatory tariffs, Juncker said the EU "can import more soybeans from the U.S. and it will be done." He said the two sides also agreed to work together to reform the World Trade Organization, which Trump has vehemently criticized as being unfair to the U.S.

Earlier in the Oval Office, Juncker told Trump that the two trading partners were "allies, not enemies" and said they needed to work together to address recent frictions involving Trump's threats to impose tariffs on auto imports and EU plans to retaliate.

Trump has placed tariffs on imported steel and aluminum, saying they pose a threat to U.S. national security, an argument that the EU and Canada reject. He has also threatened to slap tariffs on imported cars, trucks and auto parts, potentially targeting imports that last year totaled $335 billion.

The president has repeatedly called the EU - which includes many of the U.S.' oldest and most committed allies - an unfair trading partner and even labeled it a "foe."

The European Union has warned that it will retaliate with tariffs on products worth $20 billion if Trump puts duties on cars and auto parts from Europe.


Copyright 2018, Associated Press

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Spell Check

Lockport, IL
7/27/2018 07:00 AM

  Scott, I think your Trump Derangement Syndrome is flaring again. Take your meds, buddy. 2 points: 1- the EU president does not have to "go sell this to 28 EU members", because to EU bureaucrats don't answer to the individual countries. That's why Great Britain voted to get out. No representation, you just get told what is going to happen. 2- In case you missed it, North Korea already flew out the remains of the soldiers missing in NoKo since the war. I am curious, though, to find out just exactly what kind of agriculture you're engaged in in the suburbs of San Francisco? Or do you just produce rage and hate against the first president in a century that has actually stood up for America? I'll stick to things people actually eat and provide nourishment to their bodies.

Jonesboro, AR
7/27/2018 05:05 PM

  Got to give ole Scott credit. He can take good Trump news and twist it around until it's bad news lol! Maybe he should try to get a job at CNN or MSNBC. He's from the right neck of the woods and he seems smarter than some of the nitwits they employ. Go Scott! May TDS pay dividends for you.

Menlo Park, CA
7/27/2018 03:28 PM

  Here you go Phil. WSJ article today. You can choose to believe Trump. My 40 years of negotiating tells me to listen to what the guys across the table think they agreed to. WSJ: Trump Says He ‘Opened Up Europe’ for Farmers. Europeans Disagree. While Mr. Trump told an Iowa crowd Thursday that “we just opened up Europe for you farmers,” officials in Brussels later said he did no such thing. “On agriculture, I think we’ve been very clear on that—that agriculture is out of the scope of these discussions,” Mina Andreeva, the European Commission spokeswoman, told reporters in Brussels on Friday. “We are not negotiating about agricultural products,” added Ms. Andreeva, who was part of the European delegation visiting Washington earlier this week. My issue with Trump is that this is third time in my life time that a president has tried to use agriculture as leverage in economic disputes. Every time it has not worked out and the government winds up providing welfare checks to farmers to keep them in business (think of the Russian embargo and what we have sold to them since. Nothing, or tariffs with Japan in 83, distress for farmers and Japan invested heavily along with Russia in developing ag in Brazil, now our biggest competitor. Lastly, he is not an honest man and I think misleads the public on way too many issues. BTW, grew up on a farm in Mo and still own farms there.