U.S. President Donald Trump and EU Commissions President Jean-Claude Juncker agree to work toward 'zero tariff' deal,… as they try to avoid full-blown trade war.
This,… following Trump's threat to impose tariffs on car imports.
Won Jung-hwan has more.
U.S. President Donald Trump said Wednesday that he and European Commission President Jean-Claude Juncker have agreed to work toward eliminating tariffs and barriers on trade,… reducing trade tensions for now.
"We agreed today, first of all, to work together toward zero tariffs, zero non-tariff barriers and zero subsidies on non-auto industrial goods,"
While declaring it as a 'very big day for free and fair trade',… Trump said the EU agreed to import more U.S. soybeans and liquefied natural gas.
The U.S. and the EU had been on course for a full-on trade war after Trump announced earlier this year tough new levies on steel and aluminum exports,... and recently threatening a 25-percent tariff on European autos, with the EU reciprocating with tariffs against U.S. goods.
But some of those issues seemed to be resolved during Wednesday's meeting.
"We also will resolve the steel and aluminum tariff issues and we will resolve retaliatory tariffs. We have some tariffs that are retaliatory, and that will get resolved what we're doing."
As both sides agreed to hold off on other tariffs for the time being,… the meeting between Trump and Juncker could be the start of a better trade relationship between Europe and the United States.
Won Jung-hwan, Arirang News.
