Juncker presents Trump with cemetery photo, but it’s not a grave warning

Trump Juncker

Trump Juncker

European carmakers climbed after President Donald Trump backed off his threat to levy tariffs on cars imported to the US during a meeting with European Commission President Jean-Claude Juncker, averting for the time being an escalating trade war.

We agreed today first of all to work together towards zero tariffs, zero nontariff barriers and zero subsidies for the non-auto industrial goods.

"Soybeans is a big deal".

"I had intention to make a deal today and we made a deal today", Trump said.

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 USA wants.

US President Donald Trump called Chinese trade practices vicious on Wednesday, his latest blast at the world's second-biggest economy as the two sides slug it out in a deepening trade war.

Sen. John Hoeven, R-N.D., said Trump and U.S. Trade Representative Robert Lighthizer said they are still planning to have a reworked NAFTA by early fall, and that Lighthizer pledged to provide the lawmakers with details on several other smaller agreements he said were coming together, including with South Korea and South America.

Juncker said the two sides agreed that as long as they were negotiating on trade, they would hold off on further tariffs, including potential U.S. tariffs on cars and auto parts.

"It's a positive step, but one that we'll have to see if this truly is progress", said Dan Ujczo, a trade lawyer at Dickinson Wright in Ohio.

Mary Lovely, a Syracuse University economist who studies trade, said, "The Chinese are not going to be buying our soybeans, so nearly by musical chairs our soybeans are going to Europe".

Flash flood watch into early Tuesday for Northern Virginia
Some thunderstorms are possible Thursday afternoon and during the evening rush, but they are not expected to be significant. The National Weather Service said there's a chance of showers Wednesday , and thunderstorms are possible in the afternoon.

Trump on Wednesday said they would try to "resolve" steel and aluminum tariffs he imposed earlier this year and retaliatory duties the European Union levied in response.

European governments and EU officials hailed the Trump-Juncker agreement as a major success.

Still, however, the Republicans in the room brought up that farmers are now feeling significant pain because of shrinking markets, and that the administration needs to finalize and rework trade agreements with foreign partners as soon as possible.

"We are ready to invest in infrastructure and new terminals, which could welcome imports of energy from the United States and elsewhere, but mainly from the United States, if the conditions were right and prices competitive", he said in a speech after the White House meetings.

Trump also touted the open markets he hoped to reach for Europeans to import food from the U.S. But it could be light years when it comes to the deteriorating trade dispute between the United States and China.

USA farmers have been hurt by China's retaliatory tariffs on American soybeans amid an escalating trade fight between Washington and Beijing, and Trump has been promising relief.

Senate Foreign Relations Committee chair Bob Corker, a Tennessee Republican, said Trump's tariffs 'are a massive tax increase on American consumers and businesses, and instead of offering welfare to farmers to solve a problem they themselves created, the administration should reverse course and end this incoherent policy'.

"We should focus on reducing tariffs, not increasing them and that's what we have to do".

Eric Schweitzer, president of the German Chambers of Industry and Commerce (DIHK), said it was up to the United States now to rebuild a basis of trust with Europe, and remove the tariffs.

Recommended News

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.