European Union and U.S. partners not enemies, Juncker tells Trump

Trade war could be over as long as Europe buys lots of soybeans

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

For some trade analysts, the concern was less about the particulars of the Trump-Juncker détente than how Europe plans to deal with Trump, who only recently called the European Union a "trade foe". Trump and Juncker would have the European Union buying more liquefied natural gas and soybeans from the USA, and the two sides would begin a "dialogue to reduce differences on regulatory standards between the two economies", Mr. Trump said.

He has slapped taxes on imported steel and aluminium, saying they pose a threat to United States national security.

President Donald Trump on Thursday trumpeted his trade deal with European allies, hailing it as a benefit to Iowa farmers who have been hurt by the fallout from his protectionist trade measures.

She added that she did not think the United States proposal to drop tariffs, barriers and subsidies was serious, pointing out that the United States has laws, such as the Buy American Act, protecting its industries and agricultural policies supporting its farmers. "This was a big day for free and fair trade!"

The two sides agreed to hold off on further tariffs during negotiations, he said.

The most eye-catching proposal - talks to remove all tariffs and trade barriers for non-auto industrial goods - marks a significant shift in position from the punitive tariffs and counter-tariffs in which the two sides have been dealing of late.

Facing hard congressional elections later this year, Trump traveled to the farm state of Iowa to promote an apparent trade truce with the European Union.

Juncker said that an European Union intent to buy more soybeans helped to convince Trump to call a truce on the tit-for-tat trade dispute.

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USA prices have fallen somewhat in recent weeks, since China enacted its own set of soybean tariffs.

Whatever progress was achieved Wednesday could provide some relief for USA automakers.

"It doesn't set the scene for a very fruitful meeting", she said, adding that she only expects the meeting to provide "some sort of language that's mutually accepted".

Trump, who had threatened tariffs on European auto imports, indicated he would hold off on further tariffs while talks are underway, and that the US would talk about how to handle existing tariffs on aluminum and steel. We paid $1.5 billion in duties on Chinese footwear previous year alone.

Trump has also accused Beijing of manipulating its yuan currency to give its exporters an edge, a charge rejected by China.

"These things become Christmas trees with everybody hanging things on them", said Philip Levy, a senior fellow at the Chicago Council on Global Affairs and a former White House trade adviser. "You're not going to be too angry with Trump, I can tell you", the Hill cited Trump as saying.

"[Trump]'s a great negotiator, he did a good job", said Rep. Roger Williams, R-Texas about the move to soften the administration's stance on some goods.

But in capitals across Europe, a number of national officials echoed that sentiment, heralding the meeting as having prevented a trade war.

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