Trump concluded with the EU Treaty on the reduction of tariffs to avoid a trade war

The President of the United States Donald trump during today’s speech said that he agreed with the head of the European Commission Jean-Claude Juncker about the abolition of the additional sales duty between America and EU countries.

According to him, this was done in order to reduce the degree of intensity and to avoid a trade war. The US President noted that the parties agreed to compromise and to abandon the tariff increase.

«It’s a big day for free and fair trade,» said Donald trump.

The European Union agreed to increase the supply of liquefied natural gas and soybeans from the United States. Also will be reduced duties on various industrial products, both sides.

The United States and the European Union have a $1 TRILLION bilateral trade relationship is the largest economic relationship in the world. We want to further strengthen this trade relationship to the benefit of all American and European citizens…

— Donald J. Trump (@realDonaldTrump) July 25, 2018

«The United States and the European Union have a bilateral trade agreement totaling $1 tcm. — the largest economic partnership in the world. We want to further strengthen trade relations for the benefit of American and European citizens,» trump wrote on the social network Twitter.

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We will remind that earlier the US President promised to impose 20% duties on car imports from the European Union. Then, many companies have warned trump about the high risks of such a decision. In addition, the us leader had initiated the increase in tariffs on imported aluminium and steel to the EU, Canada and Mexico.