China being 'vicious' on trade - US President

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

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The pair agreed to work towards lowering trade barriers, meaning zero tariffs, zero non-tariff barriers, and zero subsidies on non-auto goods.

But some of those issues seemed to be resolved during Wednesday's meeting.

Appearing alongside Mr Trump at a news conference, Mr Juncker said as long as US-EU negotiations are ongoing the EU will "hold off further tariffs" on American goods.

The company credits Trump's plan to impose tariffs on imported steel and aluminum for the move. It also extends talks on aluminum and steel after the United States imposition of tariffs resulted in the European Union unleashing retaliatory measures.

"From the standpoint of the United States, we have never done this well, but we're going to do better after we do this deal and other deals that we are now working on".

As for the footwear industry, Wednesday's agreement won't result in any major changes immediately, but some say it's a glimmer of hope that more trade-positive actions may be on the horizon.

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The daily reports that the European Union leaders had agreed to this move back in May, even though United States gas is as much as 20% more expensive than Russian gas delivered to the EU. That would finally be called Free Market and Fair Trade!

"Let me not just curse the darkness, I'm glad there was a candle lit yesterday with the European Union", Rep. Huizenga said.

Neither the president nor Juncker offered details on what had specifically been agreed to, though Trump - under election-year criticism from Republicans and agricultural supporters over his tariff threats - said the Europeans have agreed to buy more soybeans. The EU agreed to increase import of U.S. liquefied natural gas and agricultural produce. We will therefore work closely together with like-minded partners to reform the WTO and to address unfair trading practices, including intellectual property theft, forced technology transfer, industrial subsidies, distortions created by state owned enterprises, and overcapacity.

Malmstrom also touted the meeting as a breakthrough on Twitter. But those tariffs covered about $3 billion in goods and would pale in comparison with possible 25 per cent tariffs on imports of cars, trucks and auto parts.

Schweitzer said European companies also faced other non-tariff barriers to doing business in the United States, for instance in winning government contracts, or due to the different regulations in various US states.

"We will not go against the spirit of this agreement unless either party terminates the negotiation", he said.

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