trade

US-EU negotiate to skip trade clash

MNA Business Desk: The United States President Donald Trump on Wednesday said that US has agreed to work towards lowering trade barriers with the European Union.

Trump made this comment after a meeting with European Commission chief Jean-Claude Juncker.

The two would work for zero tariffs, zero non-tariff barriers, and zero subsidies on non-auto goods, he said.

They also agreed to increase trade in services and agriculture, including greater US soy bean exports to the EU, reported news agency.

The agreements come amid heightened tensions between the US and EU.

The two leaders defused what had threatened to become a trade war between the two blocs, fuelled by tariffs set by Mr Trump on European steel and aluminium exports, and threats to expand the tariffs to cars.

The relationship between the US and Europe had been further frayed by Mr Trump’s apparent fondness for the Russian President Vladimir Putin and attacks on Nato and the EU.

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