In a joint press conference, President Donald Trump and President Jean-Claude Juncker of the European Union announced that they made a deal regarding trade relations. Trump says they agreed to, “work together toward zero tariffs, zero non-tariff barriers, and zero subsidies on non-auto industrial goods.” He also said, “The European Union is going to start, almost immediately, to buy a lot of soybeans — they’re a tremendous market — buy a lot of soybeans from our farmers in the Midwest, primarily.
“This will open markets for farmers and workers, increase investment, and lead to greater prosperity in both the United States and the European Union. It will also make trade fairer and more reciprocal. My favorite word: ‘reciprocal.’”
Juncker added, “We agreed to establish a dialogue on standards. As far as agriculture is concerned, the European Union can import more soybeans from the U.S., and it will be done. And we also agreed to work together on the reform of the WTO. This, of course, is on the understanding that as long as we are negotiating, unless one party would stop the negotiations, we will hold off further tariffs, and we will reassess existing tariffs on steel and aluminum.”