U.S. and EU Agree to Hold off Further Tariffs and Reform WTO

Washington, D.C.—after meeting with Jean-Claude Juncker, President of the European Commission, President Trump announced a “new phase” in the relationship between the United States and the European Union.

The U.S. and EU agreed to “work together toward zero tariffs, zero non-tariff barriers, and zero subsidies on non-auto industrial goods”, said Trump.

On June 1, 2018, the U.S. imposed a 25% tariff on imports of steel and a 10% tariff on aluminum on EU, Canada and Mexico, which triggered retaliatory measures.

“We will hold off further tariffs, and we will reassess existing tariffs on steel and aluminum,” said Juncker.

Both parties agreed to reform the World Trade Organization.

“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,” announced Trump.

EU agreed to import more soybean and liquefied natural gas from the United States.

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