Trump, Juncker announce deal pulling back from US-EU trade war

Trump, Juncker announce deal pulling back from US-EU trade war

Trump, Juncker announce deal pulling back from US-EU trade war

The imposition of punishing tariffs on imported goods has been a favored tactic by Trump, but it has prompted US partners to retaliate, creating risks for the economy.

Trump told workers gathered at U.S. Steel's Granite City Works' Steel Coil Warehouse that other countries were able to target U.S. workers and companies and steal U.S. intellectual property. In addition to tariffs on aluminum and steel, Trump has imposed tariffs on washing machines, solar panels and a wide range of Chinese products.

Juncker said during a joint Rose Garden appearance with Trump that he "had the intention to make a deal today and we made a deal today".

Among US products President Donald Trump will showcase is the Lockheed Martin Corp F-35 fighter at the White House lawn on July 23, 2018.

Saying farmers want "trade, not aid" he claimed the administration's cross-border commercial bickering is forcing it 'to invoke a welfare policy for our farmers, which I'm sure is not what they wish'.

Trump said the meeting successfully launched a new phase in the U.S.'s relationship with the European Union, which Trump has characterized as a problem for the American economy.

"We're starting the negotiation right now but we know very much where it's going", the president said.

'OK @POTUS - you created this mess with your trade war and now you are going to spend $12 billion to placate the farmers that voted for you, ' California Democratic Rep. Jackie Speier tweeted.

The US and European Union have pulled back from the threat of an all-out trade war after months of tension.

"We hope that this will not come up and we can come to a decision".

The Trump administration is offering up to $12 billion in aid to farmers hurt by retaliatory tariffs stemming from President Donald Trump's widening trade feud with other countries.

The EU had threatened to impose retaliatory tariffs on $20 billion of United States goods if the talks failed.

Meanwhile, on Tuesday, the White House said it is preparing a $12 billion aid package for US farmers hit by trade tensions. "If not, the EU Commission is preparing a rather long list of many American goods", she told Swedish newspaper Dagens Nyheter. "We have identified a number of areas on which to work together".

Malmstrom is in Washington for talks on trade. That has prompted retaliatory action from countries that farmers and others worry will hurt their bottom lines.

He also said they would "resolve the steel and aluminium tariffs", while Mr Juncker said the sides would hold off on any new tariffs while talks proceed. "And we as farmers are playing the dupes again in this whole process", said Wisconsin farmer Michael Slattery who grows soybeans, corn, wheat and alfalfa with his wife on 300 acres in Maribel, Wisconsin. Trump could impose vehicle tariffs on national security grounds once Commerce Secretary Wilbur Ross completes a required investigation, which could come anytime before a deadline by early next year.

Meanwhile, the United States remains embroiled in major trade disputes with China and other trading partners. U.S. Steel cited low oil prices - because the mill produces steel for oil refineries and the auto industry - as well as the availability of cheap, imported steel.

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