Trump reduces car import tariffs on the EU
(Baonghean.vn) - US President Donald Trump has just agreed to reduce car import tariffs on the EU, as both sides are pushing ahead with negotiations to remove other obstacles in trade.
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| US President Donald Trump and European Commission President Jean-Claude Juncker |
This means that the risk of a trade war across the Atlantic will be eliminated.
After a meeting at the White House, Trump and European Commission President Jean-Claude Juncker said that the US tariffs on steel and aluminum, along with Europe's retaliation, marked a step backward since Trump signed an order imposing tariffs on imported metals to protect domestic manufacturing businesses.
China has rejected chipmaker Qualcomm Inc's (OCOM.O) acquisition of NXP Semiconductors (NXPI.O), forcing the company to abandon the $44 billion deal.
At this time, Qualcomm needs stability from Beijing, because China accounts for nearly 2/3 of the company's total revenue, but as of noon on July 26, China has not made many changes.
Trump said Europe had agreed to increase U.S. purchases of liquefied natural gas and reduce barriers to U.S. soybean purchases, helping American farmers and the energy industry.
“The soybean purchase is a big deal. And the EU will start, and it seems like immediately, buying a large amount of soybeans,” Trump told reporters.
Juncker said both sides had agreed that as long as the US and EU were negotiating on trade, they would hold off on further tariffs, including possible US tariffs on cars and parts.
