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Originally Posted by wdmso
please show me theses EU concessions .. of which you speak if you can ....
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European Commission - Statement
Joint U.S.-EU Statement following President Juncker's visit to the White House
Washington, 25 July 2018
We met today in Washington, D.C. to launch a new phase in the relationship between the United States and the European Union – a phase of close friendship, of strong trade relations in which both of us will win, of working better together for global security and prosperity, and of fighting jointly against terrorism.
The United States and the European Union together count more than 830 million citizens and more than 50 percent of global GDP. If we team up, we can make our planet a better, more secure, and more prosperous place.
Already today, the United States and the European Union have a $1 trillion bilateral trade relationship – the largest economic relationship in the world. We want to further strengthen this trade relationship to the benefit of all American and European citizens.
This is why we agreed today, first of all, to work together toward zero tariffs, zero non-tariff barriers, and zero subsidies on non-auto industrial goods. We will also work to reduce barriers and increase trade in services, chemicals, pharmaceuticals, medical products, as well as soybeans. EU already imports the majority of soybeans from the us
This will open markets for farmers and workers, increase investment, and lead to greater prosperity in both the United States and the European Union. It will also make trade fairer and more reciprocal.
Secondly, we agreed today to strengthen our strategic cooperation with respect to energy. The European Union wants to import more liquefied natural gas (LNG) from the United States to diversify its energy supply.
Thirdly, we agreed today to launch a close dialogue on standards in order to ease trade, reduce bureaucratic obstacles, and slash costs.
Fourthly, we agreed today to join forces to protect American and European companies better from unfair global trade practices. 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.
We decided to set up immediately an Executive Working Group of our closest advisors to carry this joint agenda forward. In addition, it will identify short-term measures to facilitate commercial exchanges and assess existing tariff measures. While we are working on this, we will not go against the spirit of this agreement, unless either party terminates the negotiations.
We also want to resolve the steel and aluminum tariff issues and retaliatory tariffs.
Soybean prices plunge to a 10-year low i understand seeing this from a making money point of view how ever if the US economy is booming under the current system ? what Are his Trade tariffs expected to do ?? endless Growth is not sustainable ... above is the EU press release nothing no details just more negotiation than Trump claims it as a win Trump is doing what he did in his Business He is playing with other peoples money he is exposed to no risk
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My opinion is that Trump's tariffs were a negotiation ploy, not an economic strategy. Without that ploy, getting others to meaningfully come to the table would be an exercise in futility. These negotiations are a first, meaningful, step, not an end product. All the first, tentative, agreements can lead to the end product, but not if there is no motive on one side to get there.
Negotiating, meaningfully, by all sides toward zero tariffs can get there if the alternative is tariff war. The U.S. complacently allowing others to impose tariffs without retaliating gives us no leverage.
A first, small step, showing good faith I presume, the EU will import MORE soybeans from us and create stations to import natural gas from us (not a good thing for Russia). Everything else mentioned can now be seriously discussed and agreed to. I didn't see any mechanism being developed to resolve these issue before, except to bitch and whine about it.