cotton production

European Union Agrees to Buy More U.S. Soybeans

Dan Exports/Imports, Industry News Release, Soybeans, Trade

President Donald Trump and European Union leaders announced they’ve agreed to work toward “zero tariffs” and “zero subsidies” on a wide range of non-automobile goods. The sides will also work to resolve U.S. tariffs on steel and aluminum which are hitting the European markets hard.

europeanIn a news conference on Wednesday, the President said the EU has agreed to buy “a lot of soybeans” and increase imports of natural gas from the U.S. European Commission President Jean-Claude Juncker says the two countries have agreed to hold off on implementing any more tariffs while they work to avoid a crippling trade dispute.

An Associated Press article quotes the President as saying it was a “very big day for free and fair trade.” Trump says they will “resolve the steel and aluminum tariffs and the retaliatory tariffs.” He says America does have some of its own retaliatory tariffs that will be resolved as a part of the trade talks.

Juncker says he came to America to make a deal, which they’ve done. “We’ve identified a number of areas to work together on, including working toward zero tariffs on industrial goods,” Juncker says. As American soybean farmers have struggled in recent months, Juncker says the EU can buy more soybeans and will immediately do so.

From the National Association of Farm Broadcasting News Service.