It’s way too soon to declare Trump’s trade war over

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The two sides agreed to expand European imports of USA liquified natural gas and soybeans and lower industrial tariffs on both sides, Mr Trump said.

But in the joint conference with Juncker, Trump seemed markedly more optimistic about the future of US-European trade relations.

Still, the deal announced Wednesday with the European Union is an encouraging sign that America's trade partners may be able to placate the Trump administration with offers to buy more US goods, averting a trade war that the International Monetary Fund has warned may undermine the strongest global upswing in years.

Trump had also claimed the European Union had a $150bn trade surplus with the European Union, but Juncker corrected him, saying it was $50bn less due to a U.S. surplus in services.

The two leaders faced off over escalating dispute over tariffs and trade barriers that block USA goods.

Details of the new trade deal were to be negotiated by "an Executive Working Group of very intelligent people on both sides", Trump explained. "The real resolution is getting to agreement and getting these trade issues solved".

Juncker won't have a "great deal" or offer in hand when he arrives at the White House but will instead be trying to sound out Trump on approaches to resolving the dispute, Bloomberg reported, citing a European official who asked for anonymity to preview the meeting.

"Auto tariffs are looming unless the European Union buys more US stuff and does other things Trump demands", he said.

Trump has in recent months engaged in a multifront trade confrontation, imposing steep tariffs on steel, aluminum and tens of billions of dollars in Chinese goods, which sparked swift retaliation against key USA farm products like soy and pork.

Giuliani: Tapes Show Cohen 'Explaining Something' Trump 'Doesn't Understand'
There's nothing illegal about Cohen taping the conversation because NY state only requires the consent of one party. Cohen has a lot more information to release, and he apparently doesn't care whether it puts Trump in harm's way.

Trump also went after China, who he accused of being "vicious" with its counter-tariffs.

"Everyone can have a patriotic heart, but this won't improve his economy, and instead it could make us Chinese just shoot ourselves in the foot".

"This trade war is cutting the legs out from under farmers and White House's "plan" is to spend $12 billion on gold crutches".

Juncker's visit comes amid an escalating trade war between the US and the E.U.in the wake of Trump's decision to slap tariffs on imports of aluminum and steel last month.

In Pennsylvania, where 59,000 farms have a $137.5 billion economic impact, the tariffs have taken a toll.

The White House has chose to direct $12 billion in emergency aid to American farmers, to help take the sting out of the trade war that President Donald Trump started.

Reaction in Germany, which would be one of the biggest losers in a trade war, was broadly positive. A new WTO report showed global trade covered by measures to restrict imports reached $84.5 billion in May as compared to $79 billion in October, with 75 new actions imposed in that time period.

United States import tariffs of 25% on steel and 10% on aluminium, implemented in March, will remain in place during the talks.

"We are ready to invest in infrastructure and new terminals, which could welcome imports of energy from the United States and elsewhere, but mainly from the United States, if the conditions were right and prices competitive", he said in a speech after the White House meetings.

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