Trump Backs Off On Car Tariff Threats After Meeting With European Commission President

President Donald Trump has backed off his threat to impose tariffs on imported cars, following a meeting with European Commission President Jean-Claude Juncker, averting at least for now a trade war between the US and EU.

The two leaders said they would hold off on other tariffs while they negotiate a new deal to expand European imports of US natural gas and soybeans, as well as to lower industrial levies, Bloomberg reports.

Trump met with Juncker at the White House on Wednesday, with Trump previously threatening that he would impose a 25-percent tariff on auto imports if the meeting didn’t go well. EU warned that such a move would bring the necessary retaliatory measures on imported U.S. goods.

“We had a big day, very big,” Trump said during a press conference with Juncker. “We are starting the negotiation right now, but we know where it is going.”

Trump also added that they would try to “resolve” the steel and aluminum tariffs he imposed earlier this year and the counter measures levied by the EU in response. The U.S. and EU will also work together to reform the World Trade Organization and revisit unfair trading practices, according to a joint statement.

According to the European Automobile Manufacturers Association (ACEA), the EU-US auto-related trade is currently accounting for some 10 percent of the total trade between the two regions.

“Our industry thrives best in an environment without trade barriers. Yesterday’s agreement to initiate bilateral negotiations that seek to reduce tariff and non-tariff barriers to trade on industrial goods is a step in the right direction towards de-escalating trade tensions and addressing a trade-positive agenda,” stated ACEA Secretary General, Erik Jonnaert.

“Of course, there is a long way to go, and a lot of issues still need to be worked out,” Jonnaert cautioned. “However, we remain confident that the outcome will be positive for the EU and US economies as well as consumers on both sides of the Atlantic.”

 

  • FlameWater

    If you’re wondering why previous presidents didn’t get deals like this before it’s because they didn’t care.

  • b_digital

    Impeach this clown already

    • ndcart

      Why? Because he is trying to do something beneficial for our country?

      • Raul

        are you delusional. I don’t see any positive from that clown.

        • Scott S

          It’s what you dont see that counts but why should that make any sense to you, Go eat a tide pod or something.

        • LJ

          Booming economy, lower taxes, possible denuclearization of the Korean Peninsula, enforcement of border laws, nixed the terrible Iran deal, negotiating actual fair trade with allies, standing up for the police instead of vilifying them, etc.

          All things the Left hates, so I get why you’re mad.

          • Silimarina

            Booming economy ->the economy was doing good under Obama as well.And given the fact that Obama admin. pulled the country out of a world recession, makes it that much more impressive.
            Possible denuclearization of the Korean Peninsula -> Riiight!
            Enforcement of border laws ->i don’t even whant to go there
            Nixed the terrible Iran deal -> and risk a war with Iran
            Negotiating actual fair trade with allies -> threatening and acting like a child is not negotiation.And this “negotiation could cost US jobs(look at Harley-Davidson for ex)

          • LJ

            The economy was barely treading water under Obama, suffocated by anti-business regulations.

            Thanks for conceding on NK.

            You’d rather keep a bad agreement with Iran because you’re scared of them? Seems about right.

            Thanks for conceding on the border.

            Thanks for conceding on trade.

          • Silimarina

            The economy was barely treading water under Obama?LOL!Dude stop being full of sh*t.Look at some numbers ffs.Obama had better numbers.
            Bad agreement?What part was bad in that agreement?Because the Iranians officials were mad at Javad Zarif (the man that negociated for Iran) because the gave to much.For example they were not allowed to enrich uranium over 3%(you need 98% for nuclear weapons) and the nuclear sites were video monitored 24/7 by IAEA ( International Atomic Energy Agency).
            You don’t solve border problems with childrens in prisons.

        • ndcart

          The fact that you resorted to name calling our president tells me all I need to know about you. Good day sir.

    • LJ

      For what?

  • kachuks

    Our cars are get a higher tariff when they’re sent to Europe while theirs receive a lower one when they arrive in the States. Meet us halfway on an equal tariff.

    • DMJ

      What cars? Mercedes and BMW suvs, built in USA? Because we dont buy american cars here, except for a few Jeeps and very few Mustangs and Teslas. American cars are big, they have low milleage, poor construction, not adapted to european taste or to anyone’s taste except USA and maybe Canada and Mexico. The problem of US cars is not tariffs, it’s the cars themselves.

  • Dr Professor Weezle Eye

    So many yawns…

  • Scott S

    Just shows how little you know about economics.

  • LJ

    How so?

  • LJ

    European cars are known for their shoddy build quality and reliability.

    • Status

      That doesn’t hold up against their residual values after a 3 year lease.

    • Silimarina

      Shoddy build quality and reliability?Lol!European cars have the best build quality.Look at a Cadillac interior quality vs a Audi, Mercedes or BMW.And reliability is much better than US cars.

      http://d1arsn5g9mfrlq.cloudfront.net/sites/default/files/17_vds_chart_1.jpg

      • brn

        JD Powers is your source?

        • Status

          Well you’re not putting up anything against it to show American cars are any good.

        • Silimarina

          Yeah, what is your source?

      • LJ

        Looks like they’re spread out pretty evenly on that chart.

        • Silimarina

          You can find more European car brands above the industry average

        • Status

          Below the average line:

          5 American brands
          6 Japanese brands
          3 European brands

          Above the average line:

          5 American brands
          3 Japanese brands
          2 Korean brands
          7 European brands

          Spread evenly for the Americans perhaps, but not for the Europeans; the majority of them are sitting above average.

          Can’t quite say the same of the Japanese however.

          • LJ

            European brands have gotten better in the last decade, but they also cost quite a bit more on average, so they should have better quality. That wasn’t always the case.

  • EyalN

    Hi didn’t back off, he got a better deal than the one you had before. very basic flea market deal making.
    you order everything from Amazon and you don’t think that you can get a better deal when you meet the seller face to face

    • Maximilian Norlande Rabbitt

      FINALLY! SOMEONE gets it. The President is running the US as a business. Which is arguably the best way to do it. He knows exactly what he’s doing, ESPECIALLY when politicians don’t.

  • LJ

    That’s a lot of writing for me not to read.

  • Mi Lito

    Don’t make it seem he got spooked by the big bad EU. He was leveraging tariffs against one of the biggest sections of the European market because they were refusing to play ball. The EU made several beneficial concessions to the US, and as a result they wont be hit with a 25% tariff. Numbers don’t lie. He is actually doing a very good job economically.

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