Author Topic: Trump, EU agree to work on lowering tariffs, averting a potential trade war  (Read 586 times)

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Offline Free Vulcan

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President Donald Trump on Wednesday said the United States and the European Union had launched a "new phase" in their relationship, saying that the two major economies would start negotiations immediately on a number of areas that include working toward "zero tariffs" on industrial goods, and further cooperation on energy issues.

"We agreed today, first of all, to work together towards zero tariffs, zero non-tariff barriers and zero subsidies for the non-auto industrial goods," Trump said at a joint press conference in the White House Rose Garden with European Commission President Jean-Claude Juncker.

Trump did not address whether the two leaders had reached an agreement on car tariffs, though Juncker said that no new tariffs would be assessed as negotiations proceed. Economists have said that, among the major issues under discussion, tariffs on cars could be the biggest threat to the U.S. economy.

https://www.cnbc.com/2018/07/25/trump-we-hope-to-work-something-out-on-a-fair-trade-deal-with-europe.html
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