Trump, E.U. President Announce 'Zero Tariffs' Trade Agreement Negotiations

Trump Offers $12 Billion Aid To US Farmers Hit By Tariff War With China

President Trump welcomed European Commission President Jean-Claude Juncker to the White House on Wednesday for what are likely to be tense discussions over trade and tariffs, with Trump saying the U.S.is seeking a "level playing field" on trade with the European Union.

The EU has warned that it will retaliate with tariffs on products worth £15 billion if Trump puts duties on cars and auto parts from Europe.

President Donald Trump told European leaders Wednesday that the USA wants a "fair trade deal" with the European Union as both sides sought to defuse tensions in an escalating trade battle involving some of the world's biggest economies.

As both sides agreed to hold off on other tariffs for the time being, ... the meeting between Trump and Juncker could be the start of a better trade relationship between Europe and the United States. Today's agreement specifically deals only with "non-auto industrial goods" but Juncker and his team have been hammering the point that they hope/expect that no further tariffs will be imposed by either side so long as negotiations are ongoing. He added that they would try to "resolve" steel and aluminium tariffs he imposed earlier this year and retaliatory duties the European Union levied in response.

Leaders of the BRICS emerging economies - Brazil, Russia, India, China and South Africa - are holding an annual three-day summit, with attention focused on the threat of a USA -led global trade war.

President Donald Trump holds up a "Make Our Farmers Great Again" hat as he speaks during the 2018 Made in America Product Showcase event, July 23, 2018, in the Cross Hall of the White House in Washington, D.C.

Sen. Ben Sasse of Nebraska said Trump's trade war "is cutting the legs out from under farmers and White House's "plan" is to spend $12 billion on gold crutches".

The moves have been unsettling to lawmakers with districts dependent upon manufacturers and farmers affected by the retaliatory tariffs.

More news: Cubs fan takes foul ball from a child

Hours later, he and Juncker came out to the White House Rose Garden for an impromtu press conference - aides were still setting things up when reporters were summoned for a almost hourlong wait - to announce what amounted to a trade relations peace pact between the United States and Europe. In a series of tweets on Wednesday, he called his critics "weak" and said: "Negotiations are going really well, be cool".

Trump declared earlier Tuesday that "Tariffs are the greatest!" and threatened to impose additional penalties on US trading partners as he prepared for negotiations with European officials at the White House.

Some Republicans in farm states quickly dismissed the plan, declaring that farmers want markets for their crops, not payoffs for lost sales and lower prices.

Hmmm. Read the joint U.S. -EU statement.

Of the total unjustified retaliatory tariffs imposed on the United States, a disproportionate amount was targeted directly at American farmers, the Department of Agriculture said.

In an interview with CBS News this month, Trump described the E.U.as a "foe".

"And the European Union is going to start, nearly immediately, to buy a lot of soybeans", Trump told reporters after the meeting. But the taxes also exact a toll on US businesses and consumers, which pay more for imported products. He also spoke of the soybean import increase and working toward reforms of the WTO. On Tuesday, his administration said it would use a Depression-era program to pay farmers up to $12bn, easing the pain for a politically important Trump constituency. WTO Director-General Roberto Azevedo said Wednesday he is hoping to "stop this trend" of growing restrictions on trade.

Related News:



Most liked

Facebook (FB) Stock Sinks as Revenue Misses Expectations
Analyst Ross Sandler with Barclays asked if revenue growth was set to drop to "around 20% by the fourth quarter of this year". Wednesday's closing price amounts to a 31 percent increase in the past year; earlier in the day, shares hit a record high.

Israel shoots down Syrian fighter jet after 'airspace breach'
Two Patriot missiles intercepted the Russian-made Sukhoi on Tuesday afternoon, the Israel Defense Forces said in a statement . The last time Israel shot down a Syrian plane was in September 2014 , when another Syrian warplane violated Israeli airspace.

Breaking more Premier League records 'impossible' for Manchester City believes Pep Guardiola
Mahrez is one of the few City players to be back in training, with 16 of Guardiola's first team squad given extra time off after call-ups for the World Cup .

USA to give farmers $12bn trade war bailout
Those affected economies have in turn targeted USA agricultural products, including soybeans, dairy, meat, produce and liquor. Democratic US Representative Jackie Speier of California, a major agricultural state, challenged the president on Twitter.

North Korea Is Actually Dismantling a Key Nuclear Test Site - Leah Barkoukis
United States intelligence officials said last month that Pyongyang was working to hide key aspects of its nuclear programme. Japan is happy, all of Asia is happy", he tweeted earlier in the day.

Gunman shoots dead two on street in Toronto
It was not confirmed by the SIU whether the death was self-inflicted or as a result of the exchange of fire with police. Jody Steinhauer was celebrating her birthday with family at Christina's restaurant when they heard 10 to 15 shots.

4-Day Heat Wave Kicks Off In SoCal With Record-Breaking Heat
Still, it was so hot in Las Cruces on Monday morning that afternoon school bus service was canceled. By mid-week, monsoonal moisture will move back into the area and drop temperatures.

USA intelligence chief says no disrespect intended toward Trump
I don't mind him dealing with Russian Federation , I just want to deal with Russian Federation from a position of strength. I would have liked, Bret, for him to do what Chris Wallace, your colleague, did in his interview with President Putin.

6ix9ine Hospitalized After Reportedly Being Kidnapped and Robbed
Three hooded gunmen allegedly got out of the other vehicle , grabbed Tekashi , and pistol whipped him, leaving him unconscious. He then allegedly called someone inside - believed to be his daughter's mother - and asked her to come down with his jewelry.

Thomas gains time but stands behind Froome
Thomas was tucked in between Dumoulin and Bardet and they rejoined Froome as they passed under the 3km to go marker. But Thomas added: "People have their opinions, and that s fine ". "Wearing the yellow jersey is a massive honour".

Huge relief for girls as officials scrap tax on sanitary pads
Mr Goyal said, traders with turnover up to 5 crore rupees will deposit GST monthly but they have to file the returns quarterly. Union Textile minister Smriti Irani too tweeted thanking the Finance Minister for exempting sanitary napkins from GST.

Nine, including minor girl, shot in Torontos Greektown, gunman dead
I have spoken to Premier Doug Ford who has conveyed his condolences on behalf of the province and offered any assistance required. Tory said the night reflected the city's ongoing "gun problem" and said firearms were "too readily available to too many people".

U.S. urges Security Council to maintain N.Korea pressure
Although it's summer, China has recently increased the oil flow to the winter levels, the source told the South Korean outlet. As for the broader global community, she said, "we ask you to hold tight as we go forward".

Israel launches Gaza strikes as soldier dies from gunshot
Israel maintains many of those it has killed were Hamas militants and says its security concerns necessitate its blockade of Gaza. Israel did not confirm the deal, which was the second such ceasefire agreement in a week.

Trump rips Fed for raising interest rates
Shares in trade-sensitive stocks were hardest hit, with auto makers Daimler, Volkswagen and Fiat Chrysler all down more than 1pc. I don't really - I am not happy about it. "I couldn't care less what they say, because my views haven't changed", he said.