Trump and top European leader agree to work toward zero tariffs

Trump administration announces $12 billion 'bailout' for farmers

Trump hailed "a new phase" of trade relations.

As US soybean farmers have struggled against retaliatory tariffs, Mr Juncker said the European Union "can import more soybeans from the US and it will be done".

"In regards to agricultural trade we see especially in soybeans no negotiating leeway for a trade-political agreement as oilseed imports from the United States are already free from customs restrictions", DBV president Joachim Rukwied said.

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China has struck back with duties on soybeans and pork, affecting mid-western U.S. farmers in a region of the country that supported the president in his 2016 campaign.

The Trump administration has planned an emergency aid package that would offer up to $12 billion for farmers hurt by tariffs caused by the trade dispute.

Trump also touted the open markets he hoped to reach for Europeans to import food from the U.S.

"We are starting the negotiation right now but we know very much where it's going", he said. His Juncker, meeting, and the EU's agreement to import more natural gas and agricultural products from the U.S., is therefore being portrayed as a victory by his team, evidence that the controversial tactics of this deal-making President have paid off.

Juncker said it was a "good, constructive meeting".

The outcome seemed a victory for Trump, who had assured supporters that his confrontational trade strategy would bear fruit, and who appears to have conceded little in the talks with the EU.

"It's all politics", said Stan Collender, adjunct professor at the McCourt School of Public Policy at Georgetown University.

He added: "There's no there there". -European relations, following criticism Trump leveled at the leaders of Germany and the United Kingdom.

Mr Juncker, meanwhile, said the U.S. and European Union had agreed to hold off on further tariffs as part of trade talks aimed at averting a crippling trade dispute involving the lucrative vehicle market.

"We have to work together".

And although European Union officials threatened immediate retaliation to any auto tariffs, and said they would not negotiate with Washington under duress, they seem to have chose to appease the irascible US leader.

U.S. agricultural products have been a major target of trading partners in response to tariffs the Trump administration has imposed on steel, aluminum, and about $34 billion worth of Chinese goods.

He's already slapped steel and aluminum tariffs on allies who in return hit back with retaliatory tariffs on U.S. products like bourbon, jeans and motorcycles.

More importantly, the "zero tariff" deal is without details.