Germany hails U.S.-EU trade reprieve
- Author: Zachary Reyes Jul 26, 2018,
Jul 26, 2018, 13:29
Schweitzer said European companies also faced other non-tariff barriers to doing business in the United States, for instance in winning government contracts, or due to the different regulations in various US states.
The mini-deal they reached, however, amounts mostly to an agreement to keep talking. But, hopefully, it could lead to the conversation between the European Union and the USA, the heat being taken out of it slightly and perhaps a de-escalation.
In a joint appearance before the press with Juncker, Trump said that the European Union will begin importing soybeans from the US Midwest, as well as liquefied natural gas to "diversity" its energy sources, in addition to reducing some industrial tariffs.
A disaster was anticipated but in the end Juncker and Trump told reporters that the sides would open negotiations to strengthen trade relations.
Marta Bengoa, professor and head of the economics department at the Colin Powell School at the City College of NY, said the deal was encouraging, but she noted that an accord with Juncker is not the same as accord with the EU's 28 members. Trump got wins on soybeans and natural gas.
President Trump seems determined to stick with his proposed 25 percent tariff on all imported vehicles, despite opposition from advisers, the auto industry, and others within the Republican party, reports The Washington Post.
"Although there have been some signs that both sides might be willing to start talking again, they are still very far apart, whereas the disagreements between the European Union and the United States are much more narrow in scope", he said.
The negotiations at the White House came as Trump has touched off a series of trade disputes with global trading partners, including China, whom he accused earlier Wednesday of employing "vicious" tactics aimed at hurting American farmers. "It will also make trade fairer and more reciprocal".
Trump's claims were met with other criticism as well.
Juncker said both sides agreed to "hold off on other tariffs" while talks proceed.
Speaking to the media, Mr Juncker said: "We are close partners, allies, not enemies". Rand Paul (R-KY) ended his week of defending Trump by coming out strongly against the tariffs. And that's what we have to do.
A senior European official told Fox News ahead of the meeting between Juncker and Trump that the aim of the meeting was to build on a conversation the two had at a G7 summit in Canada last month and to work out what exactly the US wants.
But still, president Mario Draghi's press conference could be interesting.
If she had the chance to sit down in front of the U.S. president, Susan Danger said she will tell him: "President Trump, we're allies". "I have an idea for them".
"He (Trump) understands the farmers in this country feed us, they fuel us, they clothe us and he'll do everything he can to protect them".