US-Europe Make Progress in Tariff Talks

July 25, 2018 03:46 PM
 
Pres Trump and EU Commission President Jean-Claude Juncker ease trade tensions between the two economies, agreeing to hold off on any further tariffs. Juncker says the EU will increase imports of US soybeans.

(WASHINGTON) AP - European Union Commission President Jean-Claude Juncker says he has made a deal with President Donald Trump to try to ease trade tensions.

Juncker says during a joint Rose Garden appearance with Trump that he "had the intention to make a deal today and we made a deal today."

Juncker says after a lengthy meeting with Trump that the EU has decided to increase imports of American soybeans and liquefied natural gas.

He says, "it will be done."

He also says as long as negotiations are ongoing, "We will hold off further tariffs" and reassess existing tariffs on steel and aluminum.

President Donald Trump says the United States and the European Union have agreed to work toward "zero tariffs" and "zero subsidies" on non-automobile goods.

Trump also says the EU has also agreed to buy "a lot of soybeans" and increase its imports of liquefied natural gas from the U.S.

Trump says the EU will become a "massive buyer" of LNG to help diversify their energy supply.

The president announced the agreements at the White House on Wednesday following meetings with European officials prompted by Trump's trade dispute with the EU.

He declared it a "very big day for free and fair trade."

 

Copyright 2018, Associated Press

 

Editor's Note:  This is a developing story. Check back with AgWeb.com for further updates

 

 

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