WSJ: the EU has agreed a number of concessions of the United States in matters of trade

ECONOMY

NEW YORK, July 25. /Basereporter.com/. Head of the European Commission (EC) Jean-Claude Juncker and the other members of the delegation of the European Union during the meeting with President Donald trump in Washington on Wednesday agreed a number of concessions to avoid a full-scale trade war between the EU and the USA. About it reported in a Wednesday newspaper The Wall Street Journal, citing a source at the European delegations present at the talks.

According to the newspaper, Juncker and European Commissioner for trade Cecilia Malmstrom agreed to continue working with the U.S. administration over the approval of the reduction of duties on industrial products on both sides, increase exports of liquefied natural gas (LNG) and soybeans in the EU. In addition, the parties agreed to adjust the regulatory framework to enhance the tolerance of medical equipment on the internal market of Europe.

According to a source publication, the parties have not yet completed preparing the joint Declaration on the question of fees for the supply of cars.

On Tuesday trump on Twitter suggested the authorities of the European Union simultaneously with the United States abandon customs duties, trade barriers and subsidies. According to the President, such measures will lead to “the free market and fair trade”.

On 1 June, the U.S. imposed tariffs on imports from Canada, Mexico and the EU production of steel and aluminum in the amount of 25% and 10% respectively. These countries subsequently imposed retaliatory measures. The EU, in particular, began proceedings in the WTO and on June 22 entered 25%-s ‘ duties on a number of the American metallurgical, machine-building and agricultural products, total export volume of which amounts to €2.8 billion per year.

The US President also said that the U.S. will impose duties of 20% on cars imported from the EU, if the EU eliminate trade barriers against U.S. companies. At the same time, he urged European manufacturers to build factories in the USA.

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