The Commission President was accompanied by Commissioner Malmström. President Juncker then delivered a speech at the Centre for Strategic and International Studies (link below).
The United States is the second biggest exporter of soybeans after Brazil and its global export share is 37.2 percent. If we team up, we can make our planet a better, more secure, and more prosperous place.
While the results of Trump and Juncker's meeting may be "a step in the right direction", Helfenbein said, concerns linger over trade agreements with China, Canada and Mexico - the United States' top three trading partners. "We want to further strengthen this trade relationship to the benefit of all American and European citizens", the leaders said.
First, we will work together toward zero tariffs, zero non-tariff barriers, and zero subsidies on non-automotive industrial goods. Barriers would be reduced and trade is services, chemicals, pharmaceuticals, and agricultural products will increase.
This will open markets for farmers and workers, increase investment, and lead to greater prosperity in both the United States and the European Union.
Reforming the World Trade Organization (WTO) and addressing unfair trade practices.
Second, the United States will make it easier for the European Union to purchase liquefied natural gas.
Thirdly, a close dialogue on standards will be launched in order to ease trade, reduce bureaucratic obstacles, and slash costs. During a recent European trip, Trump referred to the EU as a "foe, what they do to us in trade".
These unfair trade practices include intellectual property theft, forced technology transfer, industry subsidies, distortions created by state-owned enterprises, and industrial overcapacity.
The United States and the European Union will immediately set up an Executive Working Group to carry out this agenda. In addition, it will identify short-term measures to facilitate commercial exchanges and assess existing tariff measures. He reiterated that no new tariffs would be imposed during the negotiations and if the USA concluded an agreement, "there would be no auto tariffs on the European Union".
Details are still being finalized, but included in the deal are commitments for European countries to buy more US soybeans and USA liquefied natural gas (LNG), while the White House will be looking to suspend or eliminate the tariffs that it imposed on steel and aluminum imports from the European Union.
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