EU agrees to trade deal with US that meets most of Trump's objectives

Washington Times:
President Trump struck a trade deal Wednesday with the European Union, reaping significant concessions as top E.U. officials moved to avoid an escalating tariff war with the U.S.

The agreement seeks to eliminate all tariffs, trade barriers and subsidies, which was the deal pushed by Mr. Trump.

“This was a very big day for free and fair trade,” Mr. Trump said in announcing the deal in the Rose Garden with European Commission President Jean-Claude Juncker by his side.

Mr. Trump called the deal a “new phase” in U.S.-E.U. relations.

The deal also included the E.U. importing more U.S. soybeans, lowering industrial tariffs and working on an agreement to import more liquified natural gas (LNG) from America.

“I had the intention to make a deal today and we made a deal today,” said Mr. Juncker.

The two leaders faced off over escalating dispute over tariffs and trade barriers that block U.S. goods. The big dispute is over cars, with Mr. Trump threatening massive tariffs on if for the E.U. didn’t lower high tariffs on cars.

Expectations of the announced deal, with reporters summoned to the Rose Garden for an announcement, sent the stock market soaring. The Dow Jones Industrial Average climbed more than 170 points after being down about 50 points early in the afternoon.

As he headed into the meeting, Mr. Trump shrugged off intense criticism from business leaders, farmers and his own GOP lawmakers that he was igniting a trade war that hurts the U.S. economy.

The president said he was fighting to get America a better deal after decades of being taken advantage of by trading partners.

“If we could have no tariffs, and no barriers, and no subsidies, the United States would be extremely pleased,” he said as he met Mr. Juncker in the Oval Office.
Critics of Trump's strategy for getting a deal were way too pessimistic.  As I have noted all along, the end game for Trump was a free trade deal that reduced barriers to US products and services.  As part of this deal, the EU will import soybeans and LNG from teh US.  Both of these will lead to improved security for Europe and the US.   Current tariffs on IS autos and parts should also be eliminated.

The deals may have been achieved earlier if Congress and teh media were more supportive of Trump's objectives and strategy.


Popular posts from this blog

Russia attacking Iranian forces in Syria

Shortly after Nancy Pelosi visited Laredo, Texas and shook hands with mayor of Nuevo Laredo this happened