A new phase in our transatlantic partnership

President Juncker and President Trump agreed to launch a new phase of close friendship and strong trade relations between the United States and the EU. President of the European Commission Jean-Claude Juncker visited Washington, DC, where he was received in the White House by US President Donald Trump. Leaders agreed on a Joint EU-U.S. Statement launching  “a new phase in the relationship between the United States and the European Union – a phase of close friendship, of strong trade relations in which both of us will win, of working better together for global security and prosperity, and of fighting jointly against terrorism.”
Both parties agreed to work together toward zero tariffs, zero non-tariff barriers, and zero subsidies on non-auto industrial goods. This will open markets for farmers and workers, increase investment, and lead to greater prosperity. Both parties agreed to strengthen their strategic cooperation with respect to energy and to launch a close dialogue on standards in order to ease trade, reduce bureaucratic obstacles, and slash costs.
Agreement
An agreement was also reached to join forces to protect American and European companies better from unfair global trade practices. It was agreed that parties will work closely together with like-minded partners to reform the WTO and to address unfair trading practices, including intellectual property theft, forced technology transfer, industrial subsidies, distortions created by state owned enterprises, and overcapacity. Leaders decided to set up immediately an Executive Working Group of their closest advisors to carry this joint agenda forward. The Group will identify short-term measures to facilitate commercial exchanges and assess existing tariff measures. “While we are working on this, we will not go against the spirit of this agreement, unless either party terminates the negotiations. We also want to resolve the steel and aluminum tariff issues and retaliatory tariffs.”
“Make a deal today”
At the joint press statement following the meeting at the White House President Juncker said:” When I was invited by the President to the White House, I had one intention: I had the intention to make a deal today. And we made a deal today. We have identified a number of areas on which to work together. Work towards zero tariffs on industrial goods – that was my main intention – to propose to come down to zero tariffs on industrial goods.”
President Juncker also delivered a keynote speech on EU-US relations at the Centre for Strategic and International Studies (CSIS) in which he said: “As I have said many times, trade wars have no winners – they only leave scars. And tariffs will not protect national security – they will only undermine economic security “.
Create new opportunities
“Europe is prepared to work with all like-minded partners to create new opportunities and to improve the global system itself. This is why I came to Washington today. Not to give unsolicited advice but to offer increased cooperation. We will always keep dialogue open – with this administration and with all of our partners in the United States. And I strongly believe that instead of being distracted by measures and counter-measures we should focus on the real issues in global trade, of which there are many”, said the President of the European Commission, Jean-Claude Juncker.
Source: https://ec.europa.eu/