The EU is the second-biggest buyer of the USA oilseed.
European Trade Commissioner Cecilia Malmstrom, who will accompany Juncker, said last week that the EU was preparing a list of to hit if the imposed the tariffs.
The European Union has committed to buying more USA soybeans than could be accounted for by simple market forces, Agriculture Secretary Sonny Perdue said Monday after meeting with G20 agriculture ministers in Argentina over the weekend. A big part of the answer is broken farm policy that drives USA agriculture to constantly produce more. Trade tensions sparked by US tariffs on steel, aluminum and thousands of Chinese goods, as well as threats to withdraw from NAFTA have contributed to double-digit declines in commodity prices and lost contracts from overseas customers seeking to avoid trading partners' retaliatory tariffs by shifting produce and meat purchases to other sources.
The program is a response to trade tariffs implemented on US agriculture goods for the 2018 crop year only.
President Donald Trump is doubling down with China; on Wednesday he threatened to more than double tariffs on $200 billion worth of Chinese goods.
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In addition, Trump's threat to impose tariffs on European cars was put aside, and the EU planned to buy more U.S. liquefied natural gas and soybeans.
From the National Association of Farm Broadcasting News Service.
Asked about the discrepancy, Mnuchin insisted: "We specifically talked about soybeans, but we specifically agreed we would look at these other markets and it was very clear that our objective as part of this whole agreement is the Europeans have to open up more opportunities for our farmers and our agriculture".
For U.S. soybean farmers, they'd prefer a stable export market than a relief check issued by the government.
And an endless search for export markets, with several decades of trade deals created to ease the flow of US corn, soy, wheat and meat to other countries, often at such a low price that farmers in those countries can't survive the influx.