Trump proposes scrapping gas licenses for export to Europe

Trump proposes scrapping gas licenses for export to Europe

Trump proposes scrapping gas licenses for export to Europe

US President Donald Trump and European Commission chief Jean-Claude Juncker have agreed to launch negotiations to cut trade barriers, easing the threat of a transatlantic trade war. "As we break our trade agreements with Canada and Mexico in particular, where are we going to go with excess product that we produce", said Danielson.

Amid growing pressure on the USA president from business groups, lawmakers in his own party and their constituents, Malmstrom, the EU's top trade official, warned earlier on Wednesday that if the Trump administration does not back off the threat of auto tariffs, Europe will slap import taxes on US$20 billion in United States goods, primarily agricultural products.

"Well, I think that it's good anytime", Maupin said.

He's a pro-Trump lawmaker, but he's also a vehicle dealer, and the auto industry is losing sleep over Trump's steel and aluminum tariffs, and the potential the administration has raised for more auto-related tariffs.

Take soybeans, hailed as a headline victory for the US. "The uncertainty being created over the last couple months is hurting us a lot, our prices are down approximately 20 percent from prior to the tariffs going on to where they are now", said Danielson.

The condition for the deal was that Trump hold off on slapping tariffs on auto imports.

On March 1, Trump announced that the USA would be imposing a 25 percent tariff on steel imports and a 10 percent tariff on all aluminum imports.

Mega Millions Jackpot Reaches $512 Million, One of the Largest in History
The winning numbers were drawn Tuesday night for the $522 Mega Millions jackpot, the fifth largest in the game's history. The current jackpot is knocking on the door of the record $656 million set in March of 2012.

"What we've agreed is not to impose automotive tariffs while the negotiations are under way". The U.S. and European Union will work together to reform the World Trade Organization, Trump said. "So to have an announcement that two very large economies, the European Union and the US, are going to move toward zero duties, zero-tariff and non-tariff barriers and try to streamline regulatory challenges between the two trading bodies, I think is a positive thing".

As for the footwear industry, Wednesday's agreement won't result in any major changes immediately, but some say it's a glimmer of hope that more trade-positive actions may be on the horizon.

After crunch talks with the European Commission President, Mr Trump said both sides had agreed to "work together towards zero tariffs".

There are signs that the trade policies launched by Trump are causing the United States economy some difficulty, and creating political problems in Washington. At the Group of Seven summit in Quebec, Trump was roundly criticized for publicly berating allies over their trade practices and provoking a needless trade war.

"European Union Nations will be open to the United States and at the same time benefiting by everything we are doing for them", Trump added.

Trump also won a commitment to work together to reform the World Trade Organization to address some of his complaints about China on theft of USA technology, the behaviour of state-owned enterprises, and overcapacity in steel.

On Monday, at an event to celebrate US-made goods, Trump told his audience: "They're coming in to see me Wednesday and we'll see if we can work something out". Just days before, Trump wrote that tariffs were the "greatest" when negotiating trade policy.

Related news