On Wednesday, President Trump met with a delegation from the European Union to discuss trade and tariffs between the two. What was decided in that meeting scored a huge win for Americans, and for Trump.
According to The Daily Wire, the agreement led to lowering industrial tariffs on both sides of the Atlantic, while at the same time increasing liquefied natural gas exports and soy beans to Europe, as well as aligning regulatory standards for medical devices so that they would be more receptive to European markets.
Basically, the meeting led to an agreement between the United States and the European Union to solve their trade differences – before the two erupted into a full-blown trade war.
“This was a very big day for free and fair trade,” said Trump.
Representing the European Commission included its president Jean-Claude Juncker, who said that he and Trump had agreed to “work together toward zero tariffs, zero non-tariff barriers and zero subsidies on non auto-industrial goods.”
“I had the intention to make a deal today,” said Juncker, according to The Wall Street Journal. “And we made a deal today.”
Trump declared the meeting the start of a “new phase” in the relationship between the United States and the European Union. He also said that the United States and The European Union would work “closely together” to reform the World Trade Organization.
After news of the deal broke, the DOW Jones Industrial Average rose 172.16 points to close at 25,414.10 after falling more than 100 points earlier in the session, CNBC reported.
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