European Union officials to meet Trump, wielding a $20-billion threat

Trump says ‘drop all tariffs’ with European Union — hours after tweeting ‘tariffs are the greatest’

Trump says ‘drop all tariffs’ with European Union — hours after tweeting ‘tariffs are the greatest’

President Donald Trump declared victory for American farmers Thursday after brokering a ceasefire in a trade dispute with the European Union, but it is unclear how soon it will bring relief to those hurt by tit-for-tat tariffs.

But while politicians and businesses welcomed the deal Thursday, the agreement was vague, the negotiations are sure to be contentious, and the United States remains embroiled in major trade disputes with China and other countries.

Qualcomm needed Beijing's okay because China accounts for almost two-thirds of its revenue, but a deadline at midday on Thursday in Asia passed without word from China's regulator.

Reaction on financial markets ranged from enthusiasm on stock exchanges to skepticism among currency investors, while commodities experts said Trump's proclamation that Europe would buy "lots of" soybeans from US farmers hit by his trade row with China was not all that it seemed. "Soybeans is a big deal". The Trump administration has made LNG exports a priority, arguing that they help the economy and enhance geopolitical stability in countries that purchase US gas.

The biggest news from the Trump-Juncker meeting is that it appears to have delayed an impending trade war over autos. "A breakthrough has been quickly made that nobody thought possible!"

"Certainly, we'd rather have trade than aid and restore these markets but not at unfair practices", Perdue said in an interview with Fox Business Network. During a recent European trip, Trump referred to the EU as a "foe, what they do to us in trade".

President Trump called the meeting a "very big day for free and fair trade". European governments and EU officials hailed the Trump-Juncker agreement as a major success.

China and the United States announced a truce in May after two rounds of negotiations that were created to avoid a trade war. "Great for global economy", he tweeted late on Wednesday. Ultimately, that will make cars more expensive for USA consumers. The dollar fell, led by a surge in the euro, which has been pressured by the deteriorating trade relations with the EU's largest trading partner.

G20 ministers call for greater dialogue on trade tensions
G20 ministers call for greater dialogue on trade tensions

But she noted that if the USA proceeds with the duties, the European Union is ready to respond. He reiterated that no new tariffs would be imposed during the negotiations and if the U.S. concluded an agreement, "there would be no vehicle tariffs on the European Union".

Zero industrial goods tariffsTrump and Juncker said the U.S. -EU talks would seek to eliminate tariffs, trade barriers and subsidies for non-automotive industrial goods, and cut barriers to transatlantic trade in services, chemicals, pharmaceuticals and medical products.

Chinese President Xi Jinping (shee jihn-peeng) says the world faces "a choice between cooperation and confrontation" in remarks that criticized escalating US tariffs on goods from China and other major trading partners.

As Europe's top vehicle exporter, Germany stood to be hit hardest by any new levy imposed by Trump on imported autos based on the same national-security argument he has used to apply USA tariffs on foreign steel and aluminum.

He has slapped taxes on imported steel and aluminum, saying they pose a threat to USA national security. The two leaders did not specifically mention vehicle tariffs in their statements, keeping the focus on other industrial products.

Moreover, even before Wednesday's agreement, the European Union was likely to buy more US soybeans.

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.

The affected countries have in turn targeted USA agricultural products, including soybeans, dairy, meat, produce and liquor. "They're going to be a massive buyer of LNG, so they'll be able to diversify their energy supply", Trump said of Europe.

May takes personal charge of UK's Brexit negotiations
Several sources in Brussels and elsewhere reported back to Dublin the UK's tactics of separating member states from Ireland. Raab said: "Well, I think that's a rather irresponsible thing to be coming from the other side".

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