Trump announces trade concessions from EU officials on soybeans, energy, tariffs

AVERTING A TRADE WAR: President Trump announced that he has secured major trade concessions from European Union officials as part of an effort to head off a trade war between the U.S. and the E.U. ... After talks at the White House with E.U. officials, Trump announced in a joint Rose Garden appearance Wednesday with European Commission President Jean-Claude Juncker that the delegation had agreed to increase imports of soybeans and liquefied natural gas. Both sides agreed to work toward the goal of "zero" tariffs and subsidies on non-auto industrial goods, and to "resolve" recent tariffs that both sides have imposed. Trump said officials are looking to reduce "bureaucratic obstacles," work toward reform of the World Trade Organization, and limit unfair market practices.

"We had a big day, very big,” the president said. “We set out to launch a new phase of close friendship between the United States and the European Union, strong trade relationships where both of us will win.” Juncker said that as long as negotiations are ongoing, "we will hold off on further tariffs and reassess existing tariffs on steel and aluminum."