Trump and EU chief Juncker strike deal to avert trade war, agree to work towards 'zero tariffs'
2018-07-26 09:42:22 source：Straits Times
July 26, 2018
WASHINGTON (REUTERS) -- US President Donald Trump and the European Union’s chief executive, Jean-Claude Juncker, agreed on Wednesday (July 25) to work toward eliminating trade barriers on industrial goods, as Trump appeared to give ground on his threat to impose car tariffs.
The agreement to pull together a “high-level working group” to negotiate the tariff, subsidy and non-tariff barrier reductions could reduce fears of an escalating transatlantic trade war launched by Trump’s tariffs on steel and aluminium and a threat to impose a 25 per cent tariff on imported cars and auto parts.
News of the agreement helped global stocks extend their recent rally.
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