The president is meeting with European officials on Wednesday at the White House.
"We had a big day, very big", Trump said during a press conference with Juncker at the White House on Wednesday.
House Speaker Paul Ryan says lawmakers are making the case to President Donald Trump that tariffs are "not the way to go".
Farmers are being targeted since they rely on export markets for agricultural produce and have broadly supported Trump.
According to Wall Street Journal, the key elements of the agreements reflect the offers developed by European Union officials two months ago in hopes that Trump would not introduce tariffs on steel and aluminum import from the EU.
France's Le Maire singled out this pledge as especially problematic, given deep concerns over the GMO's in U.S. soybean production that falls foul of European Union norms.
The Commerce Department could recommend new tariffs as early as September after an investigation into whether auto imports posed a risk to U.S. national security.
"Phase one will be to immediately resolve those issues so there will be no tariffs in either direction", Mnuchin said.
Given Trump's avowed intent to quit the Paris Agreement, the European Union appeared to have ruled out the revival of transatlantic trade agreement talks unless he changed his mind.
Now Trump's hard-line trade strategy is being vindicated.
Speaking with Juncker at his side, Trump said they had agreed in talks to "work together toward zero tariffs, zero non-tariff barriers, and zero subsidies on non-auto industrial goods".
Here's Who The Cubs Are Trading For Cole Hamels
Hamels is making $23.5 million this season, of which $2.5 million is being paid by the Phillies . He may not return until late August or September while managing the injury to his throwing arm.
Fortnite for Android could launch exclusively with Samsung Galaxy Note 9
It's not clear how much the handset would cost and, related to that, what kind of premium a flexible display would place on a premium phone.
Fox Developing Home Alone-Inspired Stoner Comedy Stoned Alone
As paranoia sets in, he thinks he hears an intruder, but he doesn't initially realise that he's actually right. This will be Frizzell's first big studio project, coming off her success at Sundance with Never Goin' Back .
Trump also said the EU made a commitment to buy more United States soybeans and natural gas, but a European official disputed that characterization.
Trump said Europe agreed to increase purchases of United States liquefied natural gas and lower trade barriers to American soybeans, aiding U.S. farmers and the energy sector. The president is also weighing additional tariffs on domestic autos and automobile parts, a topic expected to be discussed at length when he meets Juncker on Wednesday. "It's good that there's now increasing recognition of the fact that the United States can only be strong if it has strong partnerships".
The question now is whether the agricultural aid will win over voters ahead of the mid-terms; it certainly hasn't pleased the high priests of free trade within the Republican Party.
He warned, however, it was too soon to "assess the actual content".
But French President Emmanuel Macron expressed skepticism, saying a good trade negotiation "can only be done on a balanced, reciprocal basis, and in no case under any sort of threat".
European stocks jumped in morning trade on Thursday, with the trade initiative buoying shares in carmakers.
As supply concerns send domestic prices of the metal soaring, steel workers have welcomed the tariffs.
But European markets rallied, as French and German carmakers rebounded on news of their reprieve. BMW gained 4.4 percent, Daimler 2.8 percent and Volkswagen 4.0 percent in Frankfurt.
In June when U.S. Secretary of Commerce Wilbur Ross announced the U.S. would be levelling a 25 per cent steel tariff and 10 per cent tariff on aluminum against Canada among other countries, he cited section 232 of the U.S. Trade Expansion Act, which handles trade matters considered a threat to national security.
However, it "may not be necessary" to impose the tariffs.
Trump tweeted earlier Tuesday that trade partners must either negotiate a fair deal or pay tariffs. A source quoted by Reuters said aides also strategically put Trump's name into "as many paragraphs as we can because he keeps reading if he's mentioned".
The breakthrough came as the bitter trade dispute between the United States and China appeared to claim a major casualty, with China not approving U.S. chipmaker Qualcomms takeover of NXP Semiconductors, likely shutting the door on the $44bn deal.